For Keynes, a free market economy is A. Stable and predictable B. Manageble by m

Question

For Keynes, a free market economy is A. Stable and predictable B. Manageble by means of monetary policy C. Unstable and unpredictable D. Undesirable and must be substituted by one of centralized planning For Keynes, a free market economy is A. Stable and predictable B. Manageble by means of monetary policy C. Unstable and unpredictable D. Undesirable and must be substituted by one of centralized planning A. Stable and predictable B. Manageble by means of monetary policy C. Unstable and unpredictable D. Undesirable and must be substituted by one of centralized planning

Explanation / Answer

According to Keynes, a free market doesn't have any self-balancing mechanisms that lead to full employment and it could lead to high unemployment if left for a prolonged period. The central idea of Keynesian economics is that government intervention can stabilize the economy and achieve full employment and price stability.

answer- Option D

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