New Classical Economists Believe That the Potential Output of the Economy

question 5

True/False

New classical economists believe that the potential output of the economy is stable.

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Definitions:

Life

A characteristic that distinguishes physical entities with biological processes from those that do not, either because such functions have ceased, or they never had such functions and are classified as inanimate.

Post Hoc

Short for post hoc ergo propter hoc, a logical fallacy implying that since one event follows another, the first event must be the cause of the second.

Fallacy

A deceptive, misleading, or false notion or argument, often used in the context of logical reasoning or debate.

Occurred

An event or action that took place or happened, usually at a specific time and place.