Classical Economists Believe That

question 255

Multiple Choice

Classical economists believe that:

• A)the long-run aggregate supply curve is vertical, but the short-run aggregate supply curve is horizontal.
• B)fiscal policy changes are best at controlling the business cycle.
• C)increases in the money supply will increase output.
• D)prices are flexible.

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Definitions:

Catatonic Symptoms

Behaviors associated with a severe form of schizophrenia characterized by stupor, rigidity, posturing, or agitation, not influenced by the external environment.

Delusional Behavior

Actions that are influenced by beliefs or ideas that are firmly held despite being contradicted by reality or rational argument, typically seen in various psychological disorders.

Token Economy

A behavioral modification system using tokens as reinforcement for desired behaviors, which can be exchanged for privileges or treats.

Unethical and Illegal

Activities or behaviors that are both morally wrong and against the law.