Asked by
Benjamin Blevins
on Oct 13, 2024
Verified
John Maynard Keynes noted that
A) we could print all the money we want and still have scarcity.
B) "to secure the greatest amount of pleasure with the least possible outlay should be the aim of all economic effort."
C) the general notion that scarcity is due to not having enough money is an illusion.
D) we could print all the money we want and still have scarcity AND the general notion that scarcity is due to not having enough money is an illusion.
E) we could print all the money we want and still have scarcity AND "to secure the greatest amount of pleasure with the least possible outlay should be the aim of all economic effort."
John Maynard Keynes
A notable British economist whose theories substantially modified the framework of macroeconomics and influenced the economic decision-making of governments.
Scarcity
A fundamental economic problem of having seemingly unlimited human wants in a world of limited resources.
- Detail the theory of opportunity cost in the spectrum of decision-making.
- Grasp the critical nature of outside factors, such as advancements in technology, in modifying the abilities to produce.
Verified Answer
FA
Learning Objectives
- Detail the theory of opportunity cost in the spectrum of decision-making.
- Grasp the critical nature of outside factors, such as advancements in technology, in modifying the abilities to produce.