The Classical Economists Assumed That

question 22

Multiple Choice

The classical economists assumed that

• A)monopoly was widespread in the economy.
• B)government intervention in the economic system was necessary and helpful.
• C)wages and prices were inflexible, especially downward.
• D)wages and prices were flexible.

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Definitions:

Heritability Coefficient

A statistical estimate that indicates the proportion of the variance in a trait which is attributable to genetic variation within a population.

Non-twin Relatives

Family members who are not twins but share a genetic relationship, such as siblings or cousins.

Traits

Enduring characteristics or tendencies that define an individual's behavior, thought patterns, and emotional responses.

Allele

A particular variant, or form, of a gene; most genes have two or more alleles.