The classical economists assumed
A) That the volume of final output is fixed at the full-employment level in the long-run
B) The velocity of money is constant
C) The velocity of money depends on physical,structural,and institutional factors
D) All of the above

Question

Quizplus · Accepted Answer

Classical economists believed in the long-run full-employment level of output and assumed the velocity of money to be constant, influenced by structural and institutional factors.

The Classical Economists Assumed