Classical economists believe that in the short run, in the real world:
A) prices and wages are flexible.
B) prices and wages aren't flexible enough to bring about equilibrium.
C) prices are flexible but wages were not flexible.
D) wages are flexible but prices were not flexible.
Correct Answer:
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Q33: Classicals:
A)generally favor activist government policies.
B)generally favor laissez-faire
Q34: When Classical economists of the 1930s looked
Q35: The highest amount of output an economy
Q36: Which of the following statements best depicts
Q37: The Great Depression occurred in the early:
A)1900s.
B)1930s.
C)1950s.
D)1960s.
Q39: Classical economists are generally associated with:
A)laissez-faire.
B)their support
Q40: Issues of growth are generally considered in:
A)the
Q41: Fluctuations around the long-term growth rate are
Q42: Suppose a country's output is $440 billion
Q43: Policies that affect aggregate expenditures are primarily
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