The General Theory of Employment
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The General Theory of Employment

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Questions and Answers

What is the title of the book by John Maynard Keynes published in February 1936?

  • The General Theory of Employment, Interest and Money (correct)
  • The Wealth of Nations
  • Das Kapital
  • The Road to Serfdom

    • What did The General Theory contribute to economic policy?

  • Theoretical support for gold standard
  • Theoretical support for balanced budget amendment
  • Theoretical support for laissez-faire economics
  • Theoretical support for government spending and budgetary deficits (correct)

    • What concept did The General Theory introduce that gave new prominence to the multiplier and the marginal efficiency of capital?

  • The quantity theory of money
  • The law of diminishing returns
  • The Say's Law
  • The principle of effective demand (correct)

    • What did Keynes deny about an economy's automatic adaptation?

    <p>That it would automatically adapt to provide full employment even in equilibrium</p> Signup and view all the answers

    According to The General Theory, what determines the level of employment?

    <p>The level of aggregate demand</p> Signup and view all the answers

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