Classical economics is a school of economic thought that developed in the 18th and 19th centuries. It is based on the idea that the value of a good or service is determined by the amount of labor required to produce it.

The Great Depression was a severe worldwide economic depression that began in the United States in the 1930s. The global gross domestic product (GDP) decreased by an estimated 15% between 1929 and 1932.

Fiscal policy is the use of government spending and taxation to influence the economy. Expansionary fiscal policy is designed to increase government spending in order to stimulate the economy and reduce unemployment.

Classical economics is a school of economic thought that developed in the 18th and 19th centuries. It is based on the idea that the economy is self-adjusting and that government intervention is generally harmful.

Keynesian economics is a school of economic thought that developed in the 20th century. It is based on the idea that the economy is driven by investment and that government spending can be used to stimulate economic growth.

Monetarism is a school of economic thought that developed in the 20th century. It is based on the idea that the money supply is the most important factor in determining the level of economic activity.

Monetary policy is the use of interest rates and other tools to control the money supply. Contractionary monetary policy is designed to raise interest rates in order to reduce inflation.

Schumpeterian economics is a school of economic thought that developed in the 20th century. It is based on the idea that the economy is driven by technological progress.

Fiscal policy is the use of government spending and taxation to influence the economy. Contractionary fiscal policy is designed to reduce the government's budget deficit by cutting spending or raising taxes.

Neoclassical economics is a school of economic thought that developed in the late 19th and early 20th centuries. It is based on the idea that the economy is driven by the interaction of supply and demand.

Active labor market policy is a set of government policies designed to reduce unemployment by providing job training and other assistance to workers.

Marxian economics is a school of economic thought that developed in the 19th century. It is based on the idea that the economy is driven by the accumulation of capital.

Monetary policy is the use of interest rates and other tools to control the money supply. Contractionary monetary policy is designed to reduce the money supply in order to reduce inflation.

Neoclassical economics is a school of economic thought that developed in the late 19th and early 20th centuries. It is based on the idea that the economy is driven by the interaction of supply and demand.

Active labor market policy is a set of government policies designed to reduce unemployment by providing job training and other assistance to workers.