Which of the Following Is NOT a Major Assumption of the Classical

question 246

Multiple Choice

Which of the following is NOT a major assumption of the classical model?

• A) People are motivated by self-interest.
• B) People can be fooled by money illusion.
• C) Prices are flexible.
• D) Wages are flexible.

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Definitions:

Robert Louis Stevenson

A Scottish novelist, poet, and travel writer, famous for works like Treasure Island and Strange Case of Dr Jekyll and Mr Hyde.

Lives

The existence of individuals or organisms characterized by growth, reproduction, and the capacity for change and adaptation in their environment.

Selling

The act of exchanging a product or service for money or other compensation.

Two-Way

Communication or interaction that involves reciprocal action or influence, often referring to communication channels that allow for feedback from the recipient.