Consider the following statements regarding Keynesian economics:
- Keynesian economics emphasizes the role of aggregate demand in determining the level of economic activity.
- According to Keynes, government intervention is necessary to manage economic fluctuations.
- Keynesian theory suggests that supply creates its own demand.
Which of the above statements are correct?
1
1 only
2
1 and 2 only
3
2 and 3 only
4
1 and 3 only
5
1, 2, and 3