Most classical macroeconomists considered unemployment
A)a minor problem due to the rapidity of downward price level changes.
B)a minor problem due to the sluggishness of downward price level changes.
C)a major problem due to the sluggishness of downward price level changes.
D)a major problem due to the rapidity of downward price level changes.

Question

Quizplus · Accepted Answer

Classical macroeconomists believed that unemployment was a minor issue because they thought prices, including wages, would adjust downward quickly in response to unemployment, restoring full employment.

Most Classical Macroeconomists Considered Unemployment