Economic Theories and Government Intervention Quiz
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Economic Theories and Government Intervention Quiz

Created by
@ReasonedVision

Questions and Answers

Who spearheaded a revolution in economic thinking during the Great Depression?

John Maynard Keynes

What is the central tenet of the school of thought mentioned in the text?

Government intervention can stabilize the economy

What was the prevailing idea about free markets before the revolution in economic thinking?

Free markets would automatically provide full employment

What was the main assertion of Keynes's theory?

<p>Aggregate demand determines economic activity</p> Signup and view all the answers

What did existing economic theory fail to do during the Great Depression?

<p>Both A and B</p> Signup and view all the answers

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