John Maynard Keynes disagreed with the classical economists because he believed that
A)wages and prices adjust slowly.
B)international trade plays a major role in the macroeconomy.
C)government intervention in the economy cannot reduce business cycles.
D)unemployment will be eliminated quickly by the invisible hand of the market.

Question

Quizplus · Accepted Answer

Keynes believed that wages and prices adjust slowly, which meant that the economy could experience prolonged periods of unemployment and recession. Classical economists, on the other hand, believed that wages and prices would quickly adjust to any changes in the economy, leading to a rapid equilibrium.

John Maynard Keynes Disagreed with the Classical Economists Because He