At the time of the Great Depression, there was:
A) general agreement that monetary policy could help in the short run.
B) no widely accepted theory of the causes of depressions.
C) general agreement that fiscal policy could help in the short run.
D) a consensus about what economic policies to adopt.

Question

Quizplus · Accepted Answer

During the Great Depression, there was no widely accepted theory of the causes of depressions. This led to a lack of consensus on what economic policies to adopt. While some believed in the effectiveness of fiscal policy, others believed in the effectiveness of monetary policy. The lack of a widely accepted theory contributed to the severity and length of the Great Depression.

At the Time of the Great Depression, There Was