Which of the Following Statements Is True About Classical Economists

question 21

Multiple Choice

Which of the following statements is true about classical economists?

• A) They represent a large and cohesive group of economists who agreed with David Ricardo concerning wage and price flexibility in both the short run and the long run.
• B) They may have shared some ideas in common, but their views were far from uniform.
• C) They did not believe in the neutrality of money.
• D) Their theories shed little insight on the economy today because modern issues and concerns are so different from those described in their earlier writings.

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Definitions:

Safe Workplace

A work environment where the health, safety, and wellbeing of employees are actively protected and promoted.

Verbal Warning

An oral reprimand from an employer to an employee about the employee’s performance or behavior at work, often as a preliminary step before written warnings.

Progressive Discipline

A disciplinary process in the workplace that uses a graduated range of responses to employee misconduct, from verbal warnings to dismissal.

Disciplinary Interview

A meeting between an employee and management to discuss breaches of discipline or workplace standards, potentially leading to corrective action.