A Classical Economist Believes That

question 328

Multiple Choice

A classical economist believes that

• A) if the economy was left alone, it would rarely operate at full employment.
• B) the economy is self-regulating and always at full employment.
• C) the economy is self-regulating and will normally, though not always, operate at full employment if monetary policy is not erratic.
• D) the economy is self-regulating and will normally, though not always, operate at full employment if fiscal policy is not erratic.

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Definitions:

Chain of Command

The hierarchy within an organization that outlines the authority and reporting relationships among employees.

Formal Rules

Explicit, codified regulations or procedures that govern conduct within organizations or communities.

Organizational Culture

The shared values, beliefs, norms, and practices that define the character and behavior of an organization and its members.

Employees' Perceptions

The way in which workers view or understand aspects of their work environment, culture, leadership, and policies, influencing their job satisfaction and performance.