Q
Macroeconomic theory that emphasized the theories of Keynes and de-emphasized the classical theory developed as the result of the failure of ?
-
A
A. Economic theory to explain the simultaneous increases in inflation and unemployment during the 1970s
-
B
B. The classical model to explain the prolonged existence of high unemployment during the great depression
-
C
C. Fine tuning during the 1960s
-
D
D. The economy to grow at a rapid rate during the 1950s
Correct Answer:
B. B. The classical model to explain the prolonged existence of high unemployment during the great depression
