Classical economic theory predicted that in the long run the economy would experience:
A) below full unemployment.
B) rising rate of inflation.
C) full employment.
D) idle factors of production.
Correct Answer:
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Q2: If the economy were left on its
Q3: If the economy is experiencing less than
Q4: The school of thought that emphasizes the
Q5: According to John Maynard Keynes:
A) aggregate expenditures
Q6: Classical economists believed that:
A) price flexibility automatically
Q8: The French economist Jean-Baptiste Say transformed the
Q9: Keynes once remarked that, in the long
Q11: According to Say's law, there cannot be
Q38: The consumption function shows the relationship between
A)
Q105: John Maynard Keynes and his followers argued
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