The Classical Economists Argued That Saving Is Matched by an Equal

question 172

Multiple Choice

The classical economists argued that saving is matched by an equal amount of investment because of

• A) wage flexibility.
• B) price flexibility.
• C) money flexibility.
• D) interest rate flexibility.
• E) b and c

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Definitions:

Industrial Revolution

The Industrial Revolution was a period of major industrialization and technological innovation that began in the late 18th century, leading to significant changes in society and the economy.

Population Boom

Population Boom refers to a rapid increase in the population of a particular area, often as a result of advancements in healthcare and living conditions, leading to challenges in resources and infrastructure.

Infant Mortality

Average number of infant deaths per 1,000 live births in a particular population.

Capitalism

An economic system based on the laws of free market competition, privatization of the means of production, and production for profit.