Classical Macroeconomists Believed That a Market-Based Economy Has ________ Self-Correcting

question 79

Multiple Choice

Classical macroeconomists believed that a market-based economy has ________ self-correcting forces and thus ________ business cycles.

• A)strong,mild and fleeting
• B)strong,violent and prolonged
• C)weak,mild and fleeting
• D)weak,violent and prolonged

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Definitions:

Turning Points

Critical moments or events that lead to a significant change in the course of history or one's personal life.

Vicksburg, Mississippi

A city in the state of Mississippi, known for its pivotal role in the American Civil War, particularly the Siege of Vicksburg in 1863.

Gettysburg, Pennsylvania

A town in the United States known for the pivotal battle of the Civil War fought there in 1863, which marked a turning point in the conflict.

Emancipation Proclamation

An executive order issued by President Abraham Lincoln on January 1, 1863, declaring the freedom of all slaves in Confederate-held territory.