Asked by
Austin Shanu Binu Sheela
on Oct 13, 2024Verified
Which question did John Maynard Keynes pose for the classical economists?
A) What if their policies led to inflation?
B) What if savings and investment were not equal?
C) What if government intervention did not cure a recession?
D) John Maynard Keynes posed none of these questions
John Maynard Keynes
A British economist whose theories on the influences of macroeconomic factors on economic output and government interventions shaped modern economics.
Savings
The portion of disposable income not spent on current consumption but set aside for future use, often in a deposit account or as investments.
Investment
The action or process of allocating resources, usually money, with the expectation of generating an income or profit.
- Explain the Keynesian critique of classical economics, specifically regarding savings, investment, and government intervention.
- Describe the approach advocated by Keynes in responding to economic slumps and recessions.
Verified Answer
CH
Learning Objectives
- Explain the Keynesian critique of classical economics, specifically regarding savings, investment, and government intervention.
- Describe the approach advocated by Keynes in responding to economic slumps and recessions.