The Classical Economists Believed in the Self-Correcting Nature of the Economic

question 56

Multiple Choice

The Classical economists believed in the self-correcting nature of the economic system.They believed that the major adjustment

• A)mechanisms was government assistance
• B)mechanisms were inflexible wages and prices and flexible interest rates
• C)mechanisms were flexible wages,prices and interest rates
• D)mechanisms were sticky wages,prices and interest rates
• E)mechanisms were inflexible interest rates and flexible wages and prices

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Definitions:

Profitability

The degree to which a business or activity yields profit or financial gain.

Market Value

The present cost at which a product or service is available for purchase or sale in the market.

Quality of Work Life

The overall environment at a workplace, including job satisfaction, stress levels, work-life balance, and the safety and health conditions that affect an employee's welfare.

Employee Satisfaction

A measure of how content and fulfilled employees are with their job and working environment.