Which of the following does NOT describe the views of classical economists?
A) They advocated laissez-faire policies to promote economic growth.
B) They believed the economy would naturally tend toward full employment.
C) They believed prices and wages react slowly to market changes.
D) They discouraged government intervention in markets.

Question

Which of the following does NOT describe the views of classical economists?  
A) They advocated laissez-faire policies to promote economic growth. 
B) They believed the economy would naturally tend toward full employment. 
C) They believed prices and wages react slowly to market changes. 
D) They discouraged government intervention in markets.

Quizplus · Accepted Answer

Classical economists believed in the flexibility of prices and wages, arguing that they adjust quickly to changes in supply and demand to ensure full employment and optimal economic performance. This contrasts with the view described in option C, which suggests a slower reaction to market changes, more in line with Keynesian economics.

Which of the Following Does NOT Describe the Views of Classical