When faced with the Great Recession,both Presidents,most members of Congress and Federal Reserve officials showed that they were really true believers in the ___________ school of economic thought.

A) Keynesian
B) Supply side
C) New Classical
D) Behaviorist
E) Rational expectations

Great Recession

A significant global economic downturn that began in 2007 and lasted until 2009, marked by the collapse of the housing market and financial crisis.

Keynesian

Relating to the economic theories of John Maynard Keynes, which advocate for government intervention to manage business cycles and stimulate the economy during downturns.

New Classical

An economic theory that emphasizes the importance of rational expectations and market-clearing prices in understanding economic fluctuations.