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“The outstanding faults of the economic society in which we live are its failure to provide for full employment and its arbitrary and inequitable distribution of wealth and incomes.” 1. This quotation best supports which of the economic theories of John Maynard Keynes? a.) Businesses and jobs rely most strongly on consumer demand. b.) Government regulation is necessary to stabilize the economy. c.) Markets operate best when allowed to operate freely. d.) Private individuals can best make their own economic decisions.



Answer :

sebastianmorillo

Answer:

b

Explanation:

cause

The quotation by John Maynard Keynes supports the following statement: Government regulation is necessary to stabilize the economy. Hence, Option B is correct.

Who is John Maynard Keynes?

The concepts of English economist John Maynard Keynes, 1st Baron Keynes, CB, FBA substantially altered both the theory and practice of macroeconomics as well as governmental economic policies.

He built on and significantly improved past studies on the causes of business cycles despite having a mathematical background.

British economist John Maynard Keynes (1883–1946), often considered as the father of contemporary macroeconomics, is the source of the name, theories, and guiding principles of Keynesian economics.

The General Theory of Employment, Interest, and Money, his most well-known work, was released in 1936.

Hence, The quotation by John Maynard Keynes supports the following statement: Government regulation is necessary to stabilize the economy. Option B is correct.

Learn more about John Maynard Keynes:

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