Multiple Choice
Which of the following events challenged Keynesian views, and led to the popularity of Milton Friedman's ideas?
A) The hippie community started advocating socialist values.
B) Hard-core republicans came into office.
C) The U.S.economy faced high levels of inflation and unemployment simultaneously.
D) The oil crisis exploded.
E) Countries that followed Friedman's ideas performed better.
Correct Answer:

Verified
Correct Answer:
Verified
Q4: Monetarists think that the government:<br>A)should take an
Q5: Keynesian economists today favor a model in
Q6: According to classical economics:<br>A)real GDP is determined
Q7: Traditional Keynesians would argue that fluctuations in
Q8: The effect lag occurs because it takes
Q10: The new Keynesians believe that the economy
Q11: New classical economists advocate less government intervention
Q12: The _ aggregate supply curve assumed by
Q13: Who is the leading proponent of the
Q14: In the Keynesian region of the aggregate