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Classical economists would cite all of the following as reasons why the government cannot smooth out the business cycle except that
Ratifies
Formally confirms or approves an agreement or treaty, making it officially valid.
Bound
Obligated by law or duty to do something; being in a state of obligation.
Implied Authority
Powers not explicitly stated but inferred from a person's position or conduct, allowing them to perform tasks necessary to effectively execute their duties.
Legal Effect
The consequence(s) a law or regulation imposes on an individual's rights, duties, or privileges.
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