Classical economists defended the economic concept of
A) government intervention in the marketplace.
B) prolonged recession and high rates of unemployment.
C) market clearing.
D) Keynesian economists.

Question

Quizplus · Accepted Answer

Classical economists believed in the concept of market clearing, which means that prices and quantities will adjust to equalize supply and demand in the market. They believed that any interference with this process, such as government intervention, could lead to inefficiencies and distortions in the economy.

Classical Economists Defended the Economic Concept of