"In the long run, we're all dead" was Keynes' way of saying that
A) intellectual pursuits, like understanding the economy, are unimportant in the scheme of things.
B) no one would appreciate his theories during his lifetime.
C) there is no point in saving for retirement.
D) it is very important to save for one's retirement.
E) none of the above
E
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In the past half century, the developing countries have experienced major compositional shifts from exports of primary products (including agricultural and raw materials) to exports of manufactures
How might you explain this in terms of broad historical developments during this period?
Long-term contracts are desirable for both firms and workers for each of the following reasons EXCEPT one. Which of the following does NOT explain the desirability of long-term contracts?
A) Wage negotiations are costly and time consuming on both sides. B) Contracts insulate workers from changing economic conditions such as decreases in aggregate demand. C) The incidence of strikes decreases because the contracts are binding for three years. D) Contracts reduce uncertainty.