The Great Depression of the 1930s opened the door to the ________ revolution in macroeconomic theory.
A)Keynesian
B)old classical
C)New Keynesian
D)New classical

Question

Quizplus · Accepted Answer

The Great Depression is seen as the catalyst for the development of Keynesian economics, which emphasized government intervention through fiscal policy to stimulate the economy during times of recession. The Keynesian revolution in macroeconomic theory challenged the traditional classical economic beliefs that markets would naturally adjust to any economic shock or downturn.

The Great Depression of the 1930s Opened the Door to the ________