HISTORY
WORLD WAR I AND THE RUSSIAN REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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He fully supported Georges Clemenceau’s objectives regarding French economic and military security.
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He argued that a healthy German economy was crucial to Europe’s economic recovery from the war.
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He argued that a healthy German economy was crucial to Europe’s economic recovery from the war.
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He criticized the League of Nations as a ploy by the United States to dominate Europe economically.
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Detailed explanation-1: -Keynes argued that governments should solve problems in the short run rather than wait for market forces to fix things over the long run, because, as he wrote, “In the long run, we are all dead.” This does not mean that Keynesians advocate adjusting policies every few months to keep the economy at full employment.
Detailed explanation-2: -Keynesian economics argues that demand drives supply and that healthy economies spend or invest more than they save. To create jobs and boost consumer buying power during a recession, Keynes held that governments should increase spending, even if it means going into debt.
Detailed explanation-3: -"The difficulty lies not so much in developing new ideas as in escaping from old ones.” “Markets can remain irrational longer than you can remain solvent.” “Ideas shape the course of history.” “The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future."
Detailed explanation-4: -Keynes’s magnum opus, The General Theory of Employment, Interest and Money was published in 1936.