Prior to the Great Depression of the 1930s, macroeconomics was dominated by
A) Keynesian economics.
B) monetarism.
C) classical economics.
D) supply-side economics.

Question

Quizplus · Accepted Answer

Prior to the Great Depression, classical economics was the dominant macroeconomic theory. Classical economists believed in the self-regulating nature of markets and the importance of laissez-faire policies. It was not until the Great Depression and the subsequent rise of Keynesian economics that classical economics began to lose its dominance.

Prior to the Great Depression of the 1930s, Macroeconomics Was