The classical economists believed that recessions
A) needed to be fought with monetary and fiscal policy.
B) would probably develop into depressions.
C) develop into inflations.
D) would cure themselves.
Correct Answer:
Verified
Q6: The equation of exchange
A)always balances.
B)usually balances.
C)sometimes balances.
D)never
Q7: If Q = 800,P = 20,and V
Q8: Each of the following was considered a
Q9: Which school of economics held that individuals
Q10: Say's law was the centerpiece of
A)Keynesian economics.
B)communism.
C)classical
Q12: The equation of exchange
A)is GDP = C
Q13: The only school of economics that could
Q14: The quantity theory of money originated under
A)classical
Q15: If M is 2,000,Q is 1,000,and P
Q16: The most prominent classical economist was
A)Karl Marx.
B)Adam
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