The evolution of macroeconomic theory
A)usually precedes and causes major macroeconomic events.
B)usually is in reaction to major macroeconomic events.
C)is evenly divided between causing and reacting to major macroeconomic events.
D)proceeds rather independently of major macroeconomic events.

Question

Quizplus · Accepted Answer

The evolution of macroeconomic theory typically occurs in response to major macroeconomic events such as the Great Depression, the oil crisis of the 1970s, and the global financial crisis of 2008. New events and challenges prompt economists to re-evaluate existing theories and develop new ones to better understand and address current issues.

The Evolution of Macroeconomic Theory