Which of the following is not a characteristic of the classical system?
A) temporary excess demand and supply in labor markets.
B) Price flexibility
C) Money wage flexibility
D) real values,not nominal values,matter
Correct Answer:
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Q32: Figure 4.1 Q33: If the propensity to hold money is Q35: Which of the following statements applies to Q36: In the classical theory of aggregate demand,a Q37: In the classical model,less consumption and more Q38: Supply-side economists Q39: Classical economists
A)focus almost exclusively on the supply-side
A)argued that the money supply determined
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