If Asked About the Basic Functioning of the Economy,a Classical

question 39

Multiple Choice

If asked about the basic functioning of the economy,a classical economist would claim that

• A) the market tends toward stability and full employment.
• B) the market tends toward instability and cyclical unemployment.
• C) prices are sticky.
• D) the economy needs help in moving back to full employment.
• E) the short run is more significant than the long run.

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Definitions:

Amortized

The process of gradually reducing the cost of an intangible asset or paying off a debt over a period.

Legal Fees

Charges for legal services provided by attorneys or law firms.

Carrying Value

The net amount at which an asset or liability is reported on the financial statements, considering factors such as depreciation or amortization.

Infringement

This involves the unauthorized use or violation of someone else's rights, especially intellectual property rights.