Which of the following is a difference in the views of Keynesian and classical economists?
A)Keynesians believe that prices and wages adjust quickly, whereas the classicals believe they adjust slowly.
B)Keynesians believe that policymakers have full knowledge about the state of an economy, whereas the classicals believe they don't.
C)Keynesians believe that policymakers cannot offset shocks to an economy, whereas the classicals believe they can.
D)Keynesians believe that most shocks to an economy are to long-run aggregate supply, whereas the classicals believe the shocks are to aggregate demand.

Question

Quizplus · Accepted Answer

Keynesians generally believe that policymakers can intervene effectively in the economy, while classical economists often argue that policymakers lack full knowledge and that markets are better left to adjust on their own.

Which of the Following Is a Difference in the Views