Which of the Following Is Not True About Classical Economists

question 27

Multiple Choice

Which of the following is not true about classical economists?

• A)They criticized mercantilism as an economic system.
• B)They advocated laissez-faire policies to promote economic growth.
• C)They believed the economy would naturally tend toward full employment.
• D)They believed prices and wages react slowly to market changes.
• E)They discouraged government intervention in markets.

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Definitions:

Punitive Damages

Monetary compensation awarded to an injured party that goes beyond that which is necessary to compensate for losses and is intended to punish the wrongdoer.

Punitive Damages

Financial compensation awarded to a plaintiff in a lawsuit, exceeding simple compensation and intended to punish the defendant for egregious wrongdoing.

Wealth

A measure of the value of all assets of worth owned by a person, community, company, or country.

Maliciousness

The quality of having the intent to do harm, cause distress, or engage in wrongful actions deliberately.