The onset of the Great Depression:
A) was not a shock to anyone, since most economists predicted the Roaring Twenties were bound to end in disaster.
B) caused a disagreement between the Hoover administration and conventional economists because Hoover wanted the government to intervene much more quickly than most others.
C) came as a considerable shock to the conventional wisdom of economics at that time and opened the door for critiques of mainstream thought by economists like John Maynard Keynes.
D) was in 1918 at the end of World War I.

Question

Quizplus · Accepted Answer

The onset of the Great Depression was a considerable shock to conventional economic wisdom at the time. This surprise was what allowed for critiques of mainstream economic thought by economists like John Maynard Keynes to gain traction. The other answer choices are incorrect as economists did not predict the end of the Roaring Twenties, Hoover did not want the government to intervene quickly, and the onset of the Great Depression was in 1929, not 1918.

The Onset of the Great Depression