The classical economists attacked the mercantilist propositions that
A) state action was necessary to direct the capitalist system.
B) money had no intrinsic value.
C) output was completely supply-determined.
D) the wealth of a nation was closely linked to the country's stock of precious metals.
E) Both a and d
Correct Answer:
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Q1: Explain how an increase in technology,which increases
Q3: A proportionate increase in the price level
Q4: Is it possible to have a production
Q5: The supply of labor in the classical
Q6: If the demand for labor is plotted
Q7: What two principles of mercantilism did the
Q8: The supply-determined nature of output and employment
Q9: Which of the following is not consistent
Q10: The author of The Wealth of Nations;
Q11: As the real wage increases,assuming that the
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