The _____ believe that markets adjust instantly, leading to long-run equilibrium.
A) gradual monetarists
B) new classical economists
C) moderate Keynesian economists
D) extreme Keynesian economists

Question

Quizplus · Accepted Answer

New classical economists argue that markets adjust quickly to changes, ensuring that the economy is always at or near its natural level of output in the long run. This contrasts with Keynesian views, which suggest that adjustments can be slow, requiring intervention.

The _____ Believe That Markets Adjust Instantly, Leading to Long-Run