Question
In contrast with classical economics, Keynesian economics _____.
more strongly emphasizes the importance of individual businesses to the overall health of the economy
takes a broader view of the economy
relies more heavily on the laws of supply and demand
reduces the role of government
more strongly emphasizes the importance of individual businesses to the overall health of the economy
takes a broader view of the economy
relies more heavily on the laws of supply and demand
reduces the role of government
Answers
GPT-4o mini
In contrast with classical economics, Keynesian economics **takes a broader view of the economy**.
Keynesian economics emphasizes the role of aggregate demand in influencing economic output and employment, advocating for active government intervention to manage economic fluctuations, particularly during periods of recession. While classical economics tends to focus on the self-regulating nature of markets and the importance of individual businesses, Keynesian economics addresses the economy as a whole and highlights how various sectors interact.
Keynesian economics emphasizes the role of aggregate demand in influencing economic output and employment, advocating for active government intervention to manage economic fluctuations, particularly during periods of recession. While classical economics tends to focus on the self-regulating nature of markets and the importance of individual businesses, Keynesian economics addresses the economy as a whole and highlights how various sectors interact.