Classical economists believed that:
A) government could intervene in the economy and increase the level of output and employment.
B) recessions were not self- correcting.
C) unemployment could not persist for extended periods of time.
D) the government could lift the economy out of recession.
Correct Answer:
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Q8: AN UNFORTUNATE GAMBLE
What explained the decision by
Q9: Say's Law states that:
A) people are motivated
Q10: The process by which changes in wages
Q11: Which of the following curves is drawn
Q12: The reduction in investment spending in the
Q14: The view that the labor market quickly
Q15: Assuming that the economy is in the
Q16: Those who believe that wages adjust quickly
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