All of the Following Are Assumptions of the Classical Model

question 269

Multiple Choice

All of the following are assumptions of the classical model EXCEPT

• A) inflexible wages.
• B) absence of money illusion.
• C) pure competition.
• D) self-interest of economic actors.

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Definitions:

mRNA

Messenger ribonucleic acid, a type of RNA that conveys genetic information from DNA to the ribosome, where they specify the amino acid sequence of the protein products of gene expression.

Ribosome

A ribosome is a cellular organelle that synthesizes proteins by translating messenger RNA into amino acid sequences.

Anticodon

Three-base sequence in a transfer RNA molecule base that pairs with a complementary codon in mRNA.

Transfer RNA

An adaptor molecule in protein synthesis that carries a specific amino acid to the ribosome, where its anticodon pairs with the corresponding codon on mRNA.