Which of the Following Statements Is True About Classical Economists

question 21

Multiple Choice

Which of the following statements is true about classical economists?

• A) They represent a large and cohesive group of economists who agreed with David Ricardo concerning wage and price flexibility in both the short run and the long run.
• B) They may have shared some ideas in common, but their views were far from uniform.
• C) They did not believe in the neutrality of money.
• D) Their theories shed little insight on the economy today because modern issues and concerns are so different from those described in their earlier writings.

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Definitions:

Independent Variables

Factors that are manipulated or controlled in an experiment to investigate their effects on dependent variables.

Demographic Information

Data relating to the characteristics of a population or specific groups within it, such as age, sex, income, and employment status, often used in research to identify patterns or trends.

Web Survey

A research method involving the collection of data through questionnaires or surveys distributed over the Internet.

Observational Data

Data collected by observing subjects in their natural environment without interference or manipulation by the observer.