5 Questions
Who is considered the founder of macroeconomics?
John Maynard Keynes
What is the main reason neoclassical 'laissez-faire' proved ineffective during the crisis?
Insufficient demand
What is the difference between a recession and a depression?
Depression is a more severe form of recession
What is stagflation?
A state of simultaneous high inflation and unemployment
What do short-term fluctuations in price levels (P) and national income (Y) represent?
Business cycles
Test your knowledge about the fundamental concepts and theories of macroeconomics, including the influence of John Maynard Keynes and his book "General Theory of Employment, Interest, and Money".
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