The concept of the liquidity trap was formulated by _____________.

Fill in the blank(s) with the appropriate word(s).


John Maynard Keynes

Economics

You might also like to view...

Explain the relationship between economic growth and labor productivity

What will be an ideal response?

Economics

Assume that Honduras has a comparative advantage in producing bananas and exports bananas to Brazil. We can conclude that

A) Honduras has a lower opportunity cost of producing bananas relative to Brazil. B) Brazil has an absolute disadvantage in producing bananas relative to Honduras. C) Labor costs are higher for banana producers in Brazil than in Honduras. D) Honduras also has an absolute advantage in producing bananas relative to Brazil.

Economics

Suppose the daily demand for Coke and Pepsi in a small city are given by QC = 90 - 100PC + 400(PP - PC) and QP = 90 - 100PP + 400(PC - PP), where QC and QP are the number of cans Coke and Pepsi sell, respectively, in thousands per day. PC and PP are the prices of a can of Coke and Pepsi, respectively, measured in dollars. The marginal cost is $0.45 per can for both Coke and Pepsi. What is Pepsi's best response function?

A. QP = 200PC - 67.5 B. QP = (90 + 400PC) - 500PP C. PP = 0.315 + 0.4PC D. PP = (0.18 + 0.8PC) - 0.002QP

Economics

According to the Swiss Institute for Management Development, the top country in terms of productive efficiency is

A) Germany. B) Japan. C) Switzerland. D) the United States.

Economics