What Did Keynes Use the Term "Animal Spirits" to Refer

question 120

Multiple Choice

What did Keynes use the term "animal spirits" to refer to?

• A)debates by politicians concerning fiscal policy
• B)arbitrary changes in attitudes of households and firms
• C)mean-spirited economists who believed in the classical dichotomy
• D)firms' relentless efforts to maximize profits

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Definitions:

Long-Term Orientation

A cultural dimension that reflects a society's attitude towards future challenges and opportunities, emphasizing perseverance and savings for future benefit.

Society Embraces

The acceptance or adoption of ideas, behaviors, or innovations by the general public or community.

Future Rewards

Future rewards refer to the benefits or compensation that an individual or group anticipates receiving as a result of their actions or decisions in the future.

Cultural Value

Deeply rooted beliefs shared by a community that influence behavior and shape perceptions, contributing to the identity of a social group.