Answered

7. Keynesian economics failed to deal successfully with
high inflation during the 1970s
low unemployment rate during the 1960s
World War II
the Great Depression



Answer :

GinnyAnswer

Final answer:

Keynesian economics struggled with high inflation in the 1970s due to various economic factors.


Explanation:

Keynesian economics failed to address high inflation during the 1970s due to a combination of factors such as rising oil prices, the end of the Bretton Woods system, and inherent tensions within Keynesianism itself. The attempt to maintain full employment led to 'stagflation,' a challenging mix of high unemployment and rising prices.


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