The Hands-Off View of the Classical School Rests on Which

question 61

Multiple Choice

The hands-off view of the classical school rests on which of the following two simple propositions about markets?

• A)Demand creates its own supply and markets are basically competitive.
• B)Industrial policy is inevitable and all prices are flexible.
• C)Market failure occurs and prices are rigid.
• D)Wages are sticky downwards and market failure is inevitable.
• E)Markets are basically competitive and prices are flexible.

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