Question

Which of the following had been a traditional belief prior to the economic theories of John Maynard Keynes?

a. A national economy always benefited from a trade surplus.
b. Balanced budgets were sacred.
c. A bimetallic standard was superior to the gold standard.
d. Depressions typically emerged from a consumer’s crisis of confidence.
e. Deficits are not a problem, as long as they do not enlarge national debt.

Answer 1

Which of the following had been a traditional belief prior to the economic theories of John Maynard Keynes?

b. Balanced budgets were sacred.

Step-by-step explanation:

he saw such measures as interim devices to meet particular crises and affirmed that budgets should be balanced in ordinary times.