Which of the following is NOT a key assumption of the classical model?
A) There is a single monopoly seller in many markets for goods and services.
B) People cannot be fooled by money illusion.
C) People are motivated by self-interest.
D) Wages and prices are flexible.

Question

Quizplus · Accepted Answer

The classical model assumes that there is competition in the market, not a single monopoly seller.

Which of the Following Is NOT a Key Assumption of the Classical