Classical Economists Held the View That in the Economy

question 149

Multiple Choice

Classical economists held the view that in the economy,

• A)demand creates its own supply.
• B)unemployment is temporary and is soon eliminated.
• C)there is an imbalance between saving and investment.
• D)it is difficult for an economy to adjust because wages and prices are inflexible.

---

Definitions:

Standing Committees

Permanent committees in legislative bodies that focus on specific areas of public policy, such as finance or agriculture.

Legislation

Laws that have been enacted by a governing body or the process of making or enacting laws.

Select

To choose or pick from a group, often implying careful choice or preference.

Conference

A formal meeting for discussion, often focusing on a specific area of interest or professional field, involving presentations and exchanges of information.