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Q. |
"Supply creates its own demand" - Who said this? |
A. | J. B. Say |
B. | J. S. Mill |
C. | J. M. Keynes |
D. | Senior |
Answer» A. J. B. Say | |
Explanation: "Supply creates its own demand" is the formulation of Say's law by John Maynard Keynes. The rejection of this doctrine is a central component of The General Theory of Employment, Interest and Money (1936) and a central tenet of Keynesian economics. Say's Law (or Say's Law of Markets), is often summarized as: "Aggregate supply creates its own aggregate demand", "Supply creates its own demand", "If you build it, they will come", and Inherent in supply is the wherewithal for its own consumption". |
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