David Ricardo's work is associated with _______ economics.
A) Keynesian
B) new Keynesian
C) classical
D) monetarist

Question

Quizplus · Accepted Answer

David Ricardo is one of the most prominent thinkers in classical economics, which emphasizes the role of markets in allocating resources and minimizing waste. His ideas about comparative advantage and the labor theory of value are still studied today. Ricardo's work predates Keynesian economics, which emerged in the early 20th century as a response to the Great Depression, so choices A and B are incorrect. Monetarism, on the other hand, was a school of thought that emerged in the mid-20th century and focused on the role of money supply in regulating economic activity, so choice D is also incorrect.

David Ricardo's Work Is Associated with _______ Economics