Classical Economists Stress the Importance of Aggregate ________ and Generally

question 150

Multiple Choice

Classical economists stress the importance of aggregate ________ and generally believe that the economy ________ to reach full-employment equilibrium on its own.

• A) supply and demand; needs help
• B) demand; needs help
• C) supply; needs help
• D) demand; does not need help
• E) supply; does not need help

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Definitions:

Knights Of Labor

A labor organization founded in 1869 that advocated for the rights of workers and sought broad social reforms.

American Federation Of Labor

A national federation of labor unions in the United States founded in 1886, focused on advocating for the rights of skilled workers.

Frederick Taylor

An American mechanical engineer and management consultant who is considered the father of scientific management, focusing on improving industrial efficiency.

Working Conditions

The surroundings or environment in which an individual performs their job, including aspects like safety, hours, and physical demands.