Which of the following is NOT a major assumption of the classical model?
A) People are motivated by self-interest.
B) People can be fooled by money illusion.
C) Prices are flexible.
D) Wages are flexible.
Correct Answer:
Verified
Q3: Say's law argues that I. overproduction is
Q4: The idea that supply creates its own
Q5: The classical model uses the assumption that
A)
Q6: Say's law states that
A) supply creates its
Q7: Classical economists wrote from the 1770s to
Q9: Which of the following is NOT an
Q10: The first systematic attempt to explain the
Q11: The implication of Say's law is that
A)
Q12: Whom among the following was a classical
Q13: "Supply creates its own demand" is known
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