The concept of 'Liquidity Trap' was introduced by:
A. David Ricardo
B. Adam Smith
C. Milton Friedman
D. John Maynard Keynes
Answer: Option D
Solution (By JKSSB Mock Tests)
Keynes introduced the concept of liquidity trap, a situation where interest rates are so low that people prefer to hold cash rather than invest in bonds, making monetary policy ineffective.
Explanation:
The 15-minute city is an urban design principle that aims to ensure that residents can access work, shopping, education, healthcare and leisure within a 15-minute walk or bicycle ride from their homes.
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