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The Main Reason Why the Traditional Classical School Ceased to Be

Question 80

Multiple Choice

The main reason why the traditional classical school ceased to be widely accepted was that:


A) it did not reflect the realities of the modern economy.
B) when Keynes received the Nobel Prize, the academic establishment started believing his ideas.
C) it could not explain the persistence of the high levels of unemployment seen during the Great Depression.
D) it was too abstract to be completely understood.
E) it could not explain the relationship between inflation and unemployment.

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