In response to the Great Depression, the classical economists:
A) stressed the use of monetary policy over fiscal policy.
B) tried to tame the "animal spirits" that caused the recession in the first place.
C) stressed the use of fiscal policy over monetary policy.
D) did not advocate any action because of the lack of consensus about the consequences of policy.

Question

Quizplus · Accepted Answer

Classical economists during the Great Depression generally believed in the self-correcting nature of markets and were skeptical about the effectiveness of interventionist policies. They often did not advocate for specific actions, partly due to a lack of consensus on the potential outcomes of such policies.

In Response to the Great Depression, the Classical Economists