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

question 50

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.
• E)there will be absolutely no impact on the economy in the short run or the long run.

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Definitions:

Appellate Court

A court that reviews decisions made by lower courts, such as trial courts. A court of appeals.

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The theft of property from inside a structure without the use of force or breaking and entering.

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An appellate court is a higher court that reviews the decisions of lower courts to ensure the correct application of the law.

Probate Court

A specialized court that deals with matters concerning the estate of deceased persons, including the distribution of assets and adjudication of wills.