Indian Economy MCQs

Q.  Which of the following is correct with regarding to Keynesian theory?

a. State cannot stimulate growth
b. The theory was first published in The wealth of nations
c. Deficit spending is antidote to recession
d. None of the above


ANSWER: See Answer
 
Keynes was one of the most celebrated economist of all times. He published the General theory of employment, Interest and Money and this became the basis of Macroeconomic theories. Under Keynesianism, deficit spending was the antidote to recession. His ideas informed governments’ response to the great depression, and played a pivotal role in the creation of a new monetary standard at the close of World War II. To this day, many of Keynes’ most radical ideas are still economic orthodoxy.
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