Why Do Classical Economists Believe That Expansionary Fiscal Policies Have

question 44

Essay

Why do classical economists believe that expansionary fiscal policies have no impact and are not needed during a recession?

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Definitions:

Late Majority

A category of consumers that rely on others for information, buying a good or service because others have already done so.

Customer Service

The support and assistance provided by a company to those who buy or use its products or services.

Product Life Cycle

The progression of a product through different stages from introduction to growth, maturity, and decline in the market.

Laggard

Term used to describe a person, organization, or entity that is slow to adopt new technologies, practices, or innovations, often resistant to change.