Keynes Used the Term "Animal Spirits" to Refer to

question 14

Multiple Choice

Keynes used the term "animal spirits" to refer to

• A)policy makers harming the economy in the pursuit of self interest.
• B)arbitrary changes in attitudes of household and firms.
• C)mean-spirited economists who believed in the classical dichotomy.
• D)firms' relentless efforts to maximize profits.

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Definitions:

Business Competition

The rivalry among companies striving for greater sales, market share, and customer loyalty within the same market.

Unethical Behaviour

Actions that violate moral principles or professional standards, often causing harm to others or to the organization itself.

Organizations

Entities comprising multiple people working together toward a common goal, structured to coordinate their activities and resources efficiently.

Underpaid

Receiving less compensation for one's work than is considered fair or standard in the industry or profession.