Which of the Following Economic Statements Would a Keynesian Economist

question 116

Multiple Choice

Which of the following economic statements would a Keynesian economist tend to support?

• A) Government intervention in the economy is unnecessary.
• B) The short run deserves more attention than the long run.
• C) The key determinant of economic growth is long-run aggregate supply.
• D) Savings is a crucial component of economic growth.
• E) The economy tends to be stable and at full employment.

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Definitions:

Thomas Malthus

Thomas Malthus was an 18th-century British economist and demographer, best known for his theory that population growth would outpace agricultural production, leading to widespread poverty and famine.

Resource Availability

The degree to which essential inputs for production, like labor, technology, and raw materials, are readily accessible for economic activities.

Short-Run

A period in economics during which at least one factor of production is fixed and cannot be changed.

Total Product Curve

A graphical representation showing how total output of goods varies with changes in the quantity of a single input, holding all other inputs constant.