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What Event Led Economists to Question the Usefulness of Classical

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What event led economists to question the usefulness of classical models in explaining how the true economy works?


Definitions:

Cognitive Capabilities

The mental skills and abilities related to understanding, thinking, learning, and remembering.

Memory

The cognitive function that enables an individual to encode, store, retain, and subsequently recall information and past experiences.

Tertiary Circular Reaction

A cognitive development stage in infants aged 12 to 18 months where they experiment with new ways of playing and manipulating objects.

Morphemes

The smallest meaningful units in a language, such as root words, prefixes, and suffixes.

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