Which of the following events acted as an inspiration to Keynes for his writings? |
The Great Depression The Great Recession Second World War First World War |
The Great Depression |
The correct answer is Option 1: The Great Depression Macroeconomics emerged as a separate subject in the 1930s due to Keynes. The Great Depression, which dealt a blow to the economies of developed countries, had provided Keynes with the inspiration for his writings. Note: Great Recession is a recent phenomenon which lasted from December 2007 to June 2009. |