Examlex
The two dams are identical with the exception that the water reservoir behind dam A extends twice the horizontal distance behind it as that of dam B.Which one of the following statements regarding these dams is correct?
Keynesian Economics
An economic theory stating that government intervention can stabilize the economy through fiscal and monetary policy.
Wage Flexibility
The ease with which wages can adjust to match the supply and demand for labor, helping in the correction of labor market imbalances.
Full Employment
A situation in which all available labor resources are being used in the most economically efficient way, typically marked by the absence of cyclical unemployment.
John Maynard Keynes
A British economist whose theories on the causes of prolonged unemployment and the role of government intervention in economies formed the basis of Keynesian economics.
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