According to the classical economists
A) a market economy should never experience unemployment.
B) a market economy should never experience inflation.
C) if unemployment appears,it would soon disappear because of a reduction in interest rates,wages,and prices.
D) if inflation appeared it would soon disappear because of a reduction in interest rates,wages,and prices.
Correct Answer:
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Q37: Classical economics was based upon the belief
Q38: As the maximum output level (real GDP)is
Q39: If the economy is in the vertical
Q40: The classical theory of employment held that
A)total
Q41: If the aggregate supply curve is upward
Q43: The curve showing the amount of real
Q44: The aggregate supply curve shows
A)how the cost
Q45: If the aggregate supply curve is horizontal,
A)there
Q46: A nearly vertical aggregate supply curve occurs
A)when
Q47: The classical economists argued that
A)a market economy
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