Classical Economists Would Cite All of the Following as Reasons

question 53

Multiple Choice

Classical economists would cite all of the following as reasons why the government cannot smooth out the business cycle except that

• A)only productivity shocks can cause real fluctuations in the business cycle.
• B)the government has imperfect knowledge of the economy.
• C)political constraints on policy actions prevent the government from carrying out effective policies.
• D)time lags between the onset of a recession and the implementation of effective countermeasures make anti-recessionary macroeconomic policies impractical.

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Definitions:

Worker's Unionism

The collective organization of workers formed to protect and increase their rights and interests through collective bargaining.

Social Information-processing Model

A theory that describes how individuals perceive, interpret, and respond to social information, highlighting the cognitive processes involved in the social interaction.

Job Design

The process of organizing tasks, duties, and responsibilities into a productive work unit to achieve a specific goal.

Ergonomics-Based Model

A framework that focuses on designing workspaces and products to best fit human physical and psychological needs, enhancing productivity and safety.