Which of the Following Is True About Classical Economists

question 147

Multiple Choice

Which of the following is true about classical economists?

• A)They argued that the sources of depressions and high unemployment lay within the market system.
• B)They advocated laissez-faire policies to promote economic growth.
• C)They believed the economy would naturally tend toward unemployment.
• D)They believed prices and wages were rigid.
• E)They encouraged government intervention in markets.

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Definitions:

Cognitive Dissonance

A psychological phenomenon where an individual experiences discomfort due to conflicting beliefs, values, or attitudes.

Paid

To give money in exchange for goods, services, or to settle a debt.

Exciting

Causing excitement; stimulating or arousing a strong feeling of eager enthusiasm or interest.

Peripheral Approach

A term not widely recognized in psychological or cognitive theories; it might refer to strategies that engage individuals indirectly or through subtle cues rather than direct, central arguments.