Which of the following events challenged Keynesian views, and led to the popularity of Milton Friedman's ideas?
A)The hippie community started advocating socialist values.
B)Hard-core republicans came into office.
C)The U.S.economy faced high levels of inflation and unemployment simultaneously.
D)The oil crisis exploded.
E)Countries that followed Friedman's ideas performed better.

Question

Quizplus · Accepted Answer

The U.S. economy facing high levels of inflation and unemployment simultaneously challenged Keynesian views, as it was thought that government intervention could reduce both. This led to the popularity of Milton Friedman's ideas, particularly his belief in free market solutions to economic problems. The other options are not relevant to the context.

Which of the Following Events Challenged Keynesian Views, and Led