Most economists believe that classical theory describes the world in the short run but not in the long run.

Name: Most economists believe that classical theory describes the world in the short run but not in the long run.
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Most economists believe that classical theory describes the world in the long run but not in the short run, as it assumes prices and wages are flexible and markets clear to allocate resources efficiently over time.

Most Economists Believe That Classical Theory Describes the World in the Short