John Maynard Keynes Argued That If Many Households Decide at the Same

question 109

Multiple Choice

John Maynard Keynes argued that if many households decide at the same time to increase saving and reduce spending

• A)this may benefit the economy in the short run,but not in the long run.
• B)the economy will benefit in the short run and benefit by an even greater amount in the long run.
• C)this will have a major negative impact on the economy in both the short run and in the long run.
• D)this may benefit the economy in the long run,but could be counterproductive in the short run.

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Definitions:

Model Business Corporation Act

A set of model laws designed to standardize and simplify the legal structure of corporations across the United States.

Ratifies

The act of officially confirming or endorsing a decision, making it formally valid.

Adoption

In corporation law, a corporation’s acceptance of a preincorporation contract by action of its board of directors, by which the corporation becomes liable on the contract.

Novation

The act of replacing one obligation with a new one, extinguishing the original obligation.