Which of the following economic theories became popular in the 1930s in response to the shortcomings of existing theories of the Great Depression?
A)New classical theory
B)Classical theory
C)Traditional Keynesian theory
D)Monetarist theory
E)New Keynesian theory

Question

Quizplus · Accepted Answer

Traditional Keynesian theory, developed by John Maynard Keynes, became popular in the 1930s as it addressed the failures of classical economics to explain and resolve the Great Depression, advocating for increased government intervention and spending to boost demand.

Which of the Following Economic Theories Became Popular in the 1930s