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:

Aversive Conditioning

A method of behavior modification in which unpleasant stimuli are associated with undesirable behaviors to reduce or eliminate those behaviors.

Classical Conditioning

A learning process in which a neutral stimulus becomes associated with a meaningful stimulus and acquires the capacity to elicit similar responses.

Desensitization

Desensitization is a psychological process through which an individual is made less likely to feel extreme responses towards a stimulus, often used in the treatment of phobias and anxieties.

Systematic Desensitization

A method in behavioral therapy aimed at decreasing fear and anxiety by slowly introducing the individual to the object or situation that causes their fear.