Classical Economists Assumed That

question 138

Multiple Choice

Classical economists assumed that

• A)prices were sticky.
• B)individuals suffered from money illusion.
• C)wages were inflexible.
• D)none of the above.

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Definitions:

Learned Taste Aversion

The phenomenon where an individual develops a dislike or avoidance of a particular food after a negative experience, such as sickness, that gets associated with that food.

Trial-And-Error Learning

Trial-and-error learning is a form of problem-solving that involves attempting different solutions and learning from mistakes until the correct solution is found.

Response Control

The ability to regulate one's reactions to external stimuli, often in the context of behavioral psychology.

Twin Brother

A male sibling born during the same childbirth as another child, which could be identical (from one zygote) or fraternal (from two different zygotes).