Which of the Following Had Been a Traditional Belief Prior

question 94

Multiple Choice

Which of the following had been a traditional belief prior to the economic theories of John Maynard Keynes?

• A) Balanced budgets were sacred.
• B) A bimetallic standard was superior to the gold standard.
• C) Depressions typically emerged from a consumer's crisis of confidence.
• D) A national economy always benefited from a trade surplus.
• E) Deficits are not a problem, as long as they don't enlarge national debt.

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Definitions:

Industrial Relations

Is the process of negotiation and bargaining between employers and employees.

Business Associations

Represent the interests of organisations in an industry or region.

Occupational Health

A field of healthcare that focuses on the physical and mental well-being of employees in the workplace by preventing and addressing injuries and illnesses that may arise from work activities.

Profit Margins

The percentage of revenue remaining after deducting the cost of goods sold, symbolizing the financial health and profitability of a business.