Examlex
Which of the following did classical economists believe caused depressions and high unemployment?
Maximum Output Level
The highest quantity of a good or service that can be produced efficiently with available resources and technology.
Profit Incentive
A profit incentive is a financial or material reward that motivates individuals or businesses to pursue certain actions or goals for economic gain.
Classical Theory
An economic theory that suggests that free markets operate under the laws of supply and demand and are self-regulating.
Employment
The condition of having paid work.
Q17: The American Recovery and Reinvestment Act, signed
Q36: A continuing resolution is _<br>A) an agreement
Q48: Which of the following statements is true
Q64: Barter is the direct exchange of goods
Q75: If the price level increases by 5
Q82: Refer to Exhibit 10.7, which shows the
Q86: _ is the reward savers earn for
Q96: Suppose an initial increase in government expenditure
Q112: Barter was more feasible in primitive societies
Q156: Assume an economy is in equilibrium at