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Keynes by Robert Skidelsky
  • 1. Who is the main subject of the book 'Keynes' by Robert Skidelsky?
A) Friedrich Hayek
B) John Stuart Mill
C) John Maynard Keynes
D) Milton Friedman
  • 2. What did Keynes advocate during periods of economic downturns?
A) Balanced budgets
B) Increased government spending
C) Reduced government spending
D) Tax cuts for the wealthy
  • 3. What major global event did Keynes respond to with his economic theories?
A) The 2008 Financial Crisis
B) The Oil Crisis
C) World War I
D) The Great Depression
  • 4. What term describes the total demand for goods and services in an economy?
A) Market equilibrium
B) Gross domestic product
C) Aggregate demand
D) Aggregate supply
  • 5. Keynes' ideas were largely neglected during which period?
A) The 1940s
B) The 1970s
C) The 1930s
D) The 1990s
  • 6. In Keynesian theory, what role do interest rates play?
A) They eliminate unemployment
B) They influence investment levels
C) They determine savings rates
D) They stabilize prices
  • 7. Keynes' economic ideas were initially met with resistance from which group?
A) Marxists
B) Behavioral economists
C) Austrian economists
D) Classical economists
  • 8. Keynes saw which of the following as a limitation of classical economics?
A) Its focus on government intervention
B) Its reliance on technological progress
C) Its emphasis on savings
D) Its assumption of full employment
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