Which of the Following Statements Best Characterizes the Classical View

question 5

Multiple Choice

Which of the following statements best characterizes the Classical view of business cycles?

• A)Fluctuations in business activity occur in regular and predictable patterns.
• B)Fluctuations in business activity are to be expected and should be accepted.
• C)Business cycles are symptoms of underlying problems and should be addressed by macroeconomic policy.
• D)The appropriate macroeconomic policy can eliminate fluctuations in business activity.

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Definitions:

Culture

The shared values, beliefs, norms, and practices of a group of people that shape their behavior and understanding of the world.

Cultural Pluralism

A condition or society in which various cultural groups maintain their unique cultural identities while coexisting with one another within a larger society.

Cultural Pluralism

A condition in which smaller groups within a larger society maintain their unique cultural identities, and their values and practices are accepted by the wider culture.

High-context

Referring to cultures or communication styles where much of the information is understood through context rather than explicitly stated.