One of the Most Important Views Expressed by Classical Macroeconomists

question 18

Multiple Choice

One of the most important views expressed by classical macroeconomists was that

• A)wages and prices are inflexible.
• B)wages and prices are always rising.
• C)demand creates its own supply.
• D)supply creates its own demanD.

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Definitions:

Recall

The cognitive process of retrieving information from memory without the aid of cues.

Pseudoforgetting

The phenomenon where information seems to be forgotten not because it wasn't retained but because it was never effectively encoded into memory in the first place.

Decay

The process of decline or deterioration over time, often used in reference to organic matter or radioactive substances.

Interference

Interference in psychology refers to the phenomenon where the learning of new information disrupts the recall of previously-learned information.