The General Theory of John Maynard Keynes Exerted a Major

question 8

Multiple Choice

The General Theory of John Maynard Keynes exerted a major impact on macroeconomics during the 20ᵗʰ century primarily because

• A)it provided the only logically consistent view of what caused the Great Depression.
• B)it provided a reasonable explanation of what went wrong during the Great Depression and what could be done to prevent it from happening again.
• C)it explained how gross domestic product could be measured and why this was important.
• D)it derived the conditions necessary for maximum efficiency of resource use and explained how these conditions could be achieved through central planning.

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Definitions:

Mission Statement

A brief description of a company's fundamental purpose, outlining its objectives, goals, and approach to reach those goals.

Diversity

Exists in a group or organization when its members differ from one another along one or more important dimensions.

Workforce Diversity

The inclusion of individuals from various backgrounds and demographics in an organization, enhancing creativity, perspective, and innovation by embracing different experiences and ideas.

Affirmative Action

Represents a set of steps taken by an organization to actively seek qualified applicants from groups underrepresented in the workforce.