Asked by

Ashley Ellixson
on Oct 13, 2024

verifed

Verified

Our economy is always tending towards full employment according to

A) John Maynard Keynes.
B) the classical economists.
C) both Keynes and the classicals.
D) neither Keynes nor the classicals.

Full Employment

A situation in an economy where all available labor resources are being used in the most economically efficient way.

John Maynard Keynes

A British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments, known for advocating increased government expenditures and lower taxes to stimulate demand and pull the global economy out of depression.

Classical Economists

A group of economists from the 18th and 19th centuries, including figures like Adam Smith and David Ricardo, who focused on the ideas of free markets and economic growth.

  • Gain insight into the traditional theory of employment and its impact on unemployment rates.
verifed

Verified Answer

SL
Snoopy LevinOct 19, 2024
Final Answer:
Get Full Answer