Describe the economy during the Great Depression using data for
the economic
indicators that we have studied in class (e.g. GDP, unemployment
rates, inflation rates, business profits and consumer
confidence).
Before the Great Depression, classical economists such as Adam
Smith, thought the economy would correct itself. It was also viewed
that as long as firms produced goods, there would be people to buy
those goods (This is known as “Say’s Law”). What was Keynes’
explanation of the Great Depression?
Explain...