Which of the Following Is NOT an Assumption of the Classical

question 117

Multiple Choice

Which of the following is NOT an assumption of the classical model?

• A)Pure competition exists.
• B)Wages and prices are flexible.
• C)Government spending is necessary to achieve economic stability.
• D)People are motivated by self-interest.

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Definitions:

Racial Minority

An ethnic group that makes up a smaller percentage of the population compared to the majority group, often facing differing social or economic experiences.

Punitive Damages

Monetary compensation awarded in a lawsuit as a punishment to the defendant and to deter future similar conduct.

Employment Discrimination

Involves treating an employee or job applicant unfavorably because of race, gender, national origin, disability, or other protected characteristics.

Civil Rights Act

A landmark piece of U.S. legislation passed in 1964 that outlaws discrimination based on race, color, religion, sex, or national origin.