Classical Economics Argued That

question 121

Multiple Choice

Classical economics argued that:

• A)the supply curve should remain vertical in the long run.
• B)the First World War was fought to free Britain from economic ruin.
• C)depression was only a short-run, temporary departure from full-employment equilibrium.
• D)funeral plots need to be determined by the market.
• E)market-based realities cause estate taxes to be too high.

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Definitions:

Brainstorming Literature

Literature that provides insights or methods on generating ideas and solutions through collective discussion or thought processes.

Communication

The act of transferring information from one place, person, or group to another, through speaking, writing, or using some other medium.

Confusing

Lacking clarity or easy understanding, often leading to uncertainty or misunderstanding.

Multi-attribute Utility Analysis

is a systematic approach used to evaluate and compare choices, by considering multiple criteria and assigning weights to them.