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MCQ 11

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Macroeconomic theory which emphasised the theories of Keynes and de-emphasised the Classical theory developed as the result of the failure of

(Select one answer)

(a) * economic theory to explain the simultaneous increases in inflation and unemployment during the 1970s.

(b) * fine tuning during the 1960s.

(c) * the Classical model to explain the prolonged existence of high unemployment during the Great Depression.

(d) * the economy to grow at a rapid rate during the 1950s.
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