Which school of thought believed that long-run equilibrium occurs automatically and is the normal state of affairs in a market economy?
A)Keynesians
B)Neoclassicists
C)Supply-siders
D)Symbolic analysts

Question

Quizplus · Accepted Answer

The neoclassical school of thought believed in the concept of long-run equilibrium, which occurs automatically and is the normal state of affairs in a market economy. They believed that the market would always move towards equilibrium, where all resources are fully utilized and all costs and benefits are balanced.

Which School of Thought Believed That Long-Run Equilibrium Occurs Automatically