Principles of Economics, 7th Edition

Published by South-Western College
ISBN 10: 128516587X
ISBN 13: 978-1-28516-587-5

Chapter 33 - Part XII - Aggregate Demand and Aggregate Supply - Quick Check Multiple Choice - Page 742: 6

Answer

d) John Maynard Keynes

Work Step by Step

Students can refer to page 739 of the textbook explaining the origins of the AD-AS model. Keynes' book, 'The General Theory of Employment, Interest and Money', argued that recessions and depression arise from inadequate aggregate demand.
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