John Maynard Keynes ________

question 46

Multiple Choice

John Maynard Keynes ________.

• A)questioned the classical view that economies move quickly to their long run equilibrium levels
• B)advocated focusing on short run fluctuations
• C)carved out macroeconomics as a distinct field in the 1930s
• D)all of the above
• E)none of the above

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Definitions:

Welfare Economics

The branch of economics that focuses on the optimal allocation of resources and goods and how the allocation affects social welfare.

Equitable Outcome

An equitable outcome is a situation or result in economic transactions or distributions that is considered fair or just among all parties involved.

Contract Curve

In economics, a line on an Edgeworth box diagram representing the set of optimal allocations between two parties.

Egalitarian View

A perspective advocating for equal rights, benefits, and opportunities for all members of society.