Because Classical Economists Stressed the Long Run,they

question 149

Multiple Choice

Because classical economists stressed the long run,they:

• A) perceived the economy as being mostly self-adjusting.
• B) favoured the use of fiscal policy over monetary policy.
• C) expected the government to purge the rot from the system.
• D) favoured the use of monetary policy over fiscal policy.

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Definitions:

Conforms

Adjusts one's behavior or thinking to match with a group standard or expectation.

Behaviour

Actions, reactions, or conduct of an organism, usually in response to external or internal stimuli.

Conformity

The act of matching attitudes, beliefs, and behaviors to what is considered normal or acceptable in a specific social context.

Social Pressure

The influence that is exerted on individuals or groups by others, often leading to conformity in behavior or attitudes.