Which of the Following Statements Would a Classical Economist of the 1930s

question 31

Multiple Choice

Which of the following statements would a Classical economist of the 1930s most likely disagree with?

• A)The market, left to its own devices, is self-adjusting.
• B)Wages and prices will adjust to eliminate unemployment.
• C)In the short-run the economy might experience some problems.
• D)Unions do not impede wage and price adjustment.

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Definitions:

REM Dream

Dreams occurring during rapid eye movement (REM) sleep, a phase characterized by vivid, often complex and bizarre narratives.

Visual

Relating to the sense of sight or the perception of images.

Story Like

Resembling a narrative or tale, often characterized by a beginning, middle, and end, with elements of conflict and resolution.

Opiates

A group of drugs derived from opium, used for their analgesic, narcotic, and sedative effects. It includes both natural and synthetic substances.