Which economic perspective typically views the market system as less than fully competitive, and therefore subject to macroeconomic instability?
A) Monetarism
B) Mainstream economics
C) Real business cycle theory
D) Rational expectations theory

Question

Quizplus · Accepted Answer

Mainstream economics typically views the market system as less than fully competitive and recognizes the presence of market failures and imperfections, which can lead to macroeconomic instability. Monetarism, rational expectations theory, and real business cycle theory are more focused on the role of monetary policy, expectations, and efficiency in determining macroeconomic outcomes.

Which Economic Perspective Typically Views the Market System as Less