John Maynard Keynes took a "hands off", "laissez faire" approach to economics.

False

Despite being a brilliant economist, Keynes was perpetually poor.

False

John Maynard Keynes was acknowledged by his contemporaries to be a brilliant man.

True

According to classical economics, whenever consumers decide to save more, the decreased consumption is offset by increased business investment.

True

Automatic stabilizers such as unemployment insurance and the stock market help counteract economic downturns.

False

According to Keynes, in order to close a $200 billion recessionary gap, it is necessary for the government to spend $200 billion.

False

Keynes scoffed at fluid, flexible wages and prices. He thought workers would refuse to accept lower wages during a recession.

True

The equation for the Keynesian multiplier is 1/(1-MPC).

True

To Keynes, well-intentioned savers (including harmless old ladies), inflict more damage on the economy than any wicked industrialist.

True

While in college, John Maynard Keynes joined a secret society called "The Apostles." The Apostles were known for being both intellectual and arrogant.

True

Keynes thought that recessions were started by a decrease in Aggregate Supply.

False