Question

Keynesianism refers to the ideas and policy recommendations of John Maynard Keynes during the Great Depression. Like Mill, Keynes believes that there are situations where the state must play a larger but still limited role in the economy in order act to protect society from the negative effects of infallible markets.
True
False

Answer 1

Answer:

True

Explanation:

John Maynard Keynes developed the Keynesian economics, which was basically aimed to study and analyse the Great Depression.

As per the economists Keynes, the government should have made great expenditures in order to provide resources and generate and pull demand for the same.

The government shall also decrease the tax rates for creating and increasing the spending capacity of the people.

This accordingly, would help the economy fight with Global Depression.