Keynes trivia
Keynes Mini Quiz
Test your knowledge with these top questions!
Question 1
Economist John Maynard Keynes coined the term "animal spirits" to describe what economic driver?
Keynes argued that financial decisions are often driven by spontaneous optimism and emotional gut feelings rather than pure mathematical calculation.
Question 2
The Keynesian "paradox of thrift" suggests personal saving during a recession causes what result?
While saving benefits an individual, widespread hoarding reduces total consumer spending. This starves businesses of revenue, leading to layoffs that worsen the recession.
Question 3
Economist John Maynard Keynes suggested paying workers to dig holes in the ground for what reason?
Keynes argued that during depressions, creating even pointless government jobs puts wages into people's pockets, which they then spend to boost overall consumer demand.
Question 4
John Maynard Keynes famously said "in the long run, we are all dead" to criticize what practice?
He directed this quote at economists who believed free markets naturally fix themselves over time, arguing that immediate action is needed to stop ongoing human suffering.