Which of the Following Characterizes the Classical View of the Economy

question 155

Multiple Choice

Which of the following characterizes the classical view of the economy?

• A) The economy is inherently unstable.
• B) Prices and wages are not flexible.
• C) The economy will "self-adjust" to full employment.
• D) None of the above.

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Definitions:

Thrombosis

The formation of a blood clot inside a blood vessel, obstructing the flow of blood through the circulatory system.

Embolism

An obstruction in a blood vessel due to a blood clot or other foreign matter being carried in the bloodstream.

Cyanosis

A bluish discoloration of the skin and mucous membranes due to insufficient oxygenation of the blood.

Bradycardia

A slower than normal heart rate, typically defined as fewer than 60 beats per minute in adults.