What event was a major influence on the development of macroeconomics?
Question:
What event was a major influence on the development of macroeconomics?
a. the Great Depression
b. the Employment Act of 1946
c. the establishment of the Federal Reserve System in the United States
d. the U.S. entry into World War II
Macroeconomics
Macroeconomics deals with the study of the economy as a whole. It focuses on studying the performance on the whole economy and the factors affecting it. The main objectives of studying macroeconomics are to keep the unemployment low, keep inflation in check and and growth in Gross domestic product (GDP).
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View this answerGreat Depression
Great Depression lasted from 1929 to 1939 and severly impacted world's economy, the world economy was in decline, the unemployment...
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Chapter 4 / Lesson 9Understand the definition of macroeconomics and what macroeconomics focuses on. Learn the principles of macroeconomics, including economic output, economic growth, unemployment, inflation and deflation, and investment.