In the 1970s,which of the following was seen as a challenge to the Keynesian model of economic development?
A) a lack of government services
B) high inflation and stagnant economies
C) an anticorporate business climate
D) low interest rates

Question

Quizplus · Accepted Answer

The high inflation and stagnant economies of the 1970s were seen as a challenge to the Keynesian model of economic development, which emphasized government intervention and spending to stimulate economic growth. The stagflation of the 1970s, in which both inflation and unemployment rates were high, led to a questioning of the effectiveness of Keynesian policies and the need for alternative economic models.

In the 1970s,which of the Following Was Seen as a Challenge