If a classical economist were asked which factor is most important to ensuring economic growth,how might he or she respond?
A) "Encouraging savings is crucial."
B) "Encouraging immigration into the economy must be a high priority."
C) "Providing for a strong national defense is more important."
D) "Government intervention in the economy is of primary importance."
E) "Being tough on crime is crucial."

Question

Quizplus · Accepted Answer

Classical economists would likely argue that encouraging savings is crucial to economic growth, as it helps to create the capital necessary for investment and expansion. They would also prioritize limited government intervention in the economy and free market principles. Immigration and national defense may be important factors, but would not be considered the most important for ensuring economic growth in the eyes of a classical economist. Being tough on crime is not directly related to economic growth.

If a Classical Economist Were Asked Which Factor Is Most