Which of the following is NOT an assumption of the classical model?
A) Wages and prices are flexible.
B) Investment will lead to money illusion.
C) People are motivated by self-interest.
D) Pure competition exists.
Correct Answer:
Verified
Q64: According to the classical economists, actual real
Q72: According to Say's law,
A)desired expenditures are always
Q73: In a classical model
A)equilibrium real GDP is
Q74: Say's law implies that
A)surpluses never occur.
B)surpluses or
Q75: The classical economists assumed that
A)monopoly was widespread
Q76: According to the classical economists, an economy
Q79: "Supply creates its own demand" is known
Q90: In an economy with no government and
Q97: Jacob buys less soda when the price
Q98: Which of the following is NOT an
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents