“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.

b ;

Answered by sebastianmorillo | 2024-06-24

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:
https://brainly.com/question/17235472
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Answered by suchetasVT | 2024-06-25

The quotation by John Maynard Keynes supports the idea that government regulation is necessary to stabilize the economy, making option B correct. Keynes emphasized the need for intervention during economic downturns to achieve full employment and equitable wealth distribution. His work laid the foundations for Keynesian economics, advocating for active government participation in managing the economy.
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Answered by suchetasVT | 2024-08-07