Main time period in America that this theory was enforced
What is the Great Depresson
OR
After WWII
100
British economist who created economic theory that argued for active government intervention and monetary policy
Who is John Manyard Keynes?
100
The best way to ensure economic growth and stability
What is active government intervention and monetary policy?
200
Published in 1936, this was the central thesis to Keynes' work that launched the modern study of macroeconomics for four decades
What is the General Theory of Employment, Interest and Money?
200
Countries that are affected by Keynesian economics
What is all of them?
200
Keynes' expression for government intervention to help the economy get back on track
What is priming the pump?
300
The US economy faced a decline in spending once again after FDR did this
What is decreased government spending and intervention?
300
The man who opposed Keynes' economic theory the most.
Who is Hayek?
300
The sector that Keynes believed to be inefficient?
What is the private sector?
400
Policy that said government spending would boost consumer spending during the 1950s
What is the New Deal?
400
American President who believed Keynesian economics was the country's best strategy for economic growth
Who is FDR?
400
Theory that states: One person's spending goes towards another person's wages, and when that person spends his or her wages,he or she is, in effect, supporting another person's earnings.
What is the theory of total spending?
500
Countries that most recently have used Keynesian economics?
What is the United Kingdom and United States?
500
Time where Keynesian economic principles were a halfway point between laissez-faire capitalism and socialism
What is the end of the Cold War?
500
During a recession, it causes consumer spending to increase and unemployment to decrease