Prior to the Great Depression, many policy makers:
A)believed activist policies were important to the well-being of an economy.
B)focused on short-run economic problems.
C)believed that long-run economic performance was the most important goal.
D)believed economies always performed below their potential output level.

Question

Quizplus · Accepted Answer

Prior to the Great Depression, many policy makers adhered to classical economic theories, which emphasized the importance of long-run economic performance and believed that economies were self-correcting over time.

Prior to the Great Depression, Many Policy Makers