A critical assumption in the classical model is that markets are always clear.
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Q13: Classical economists believed that production could be
Q14: What major historical event led to the
Q15: Which of the following statements about modern
Q16: A critical assumption in the classical model
Q17: Which of the following is more of
Q19: According to classical economics,
A) the economy moves
Q20: The classical model
A) is another name for
Q21: The labor supply curve shows
A) how much
Q22: If the actual real wage exceeds the
Q23: Markets clear
A) in the short run
B) when
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