To classical economists,it is always true that
A)there is zero unemployment.
B)actual output is always equal to potential output.
C)excess demand for goods is possible unless prices are forced to fall.
D)the marginal product of labor exceeds the real wage.

Question

Quizplus · Accepted Answer

Classical economists believe in the long-run perspective where the economy operates at its potential output, implying that actual output equals potential output. They argue that any deviations from potential output are temporary and the economy will self-correct through adjustments in prices and wages.

To Classical Economists,it Is Always True That