If Asked About the Basic Functioning of the Economy,a Classical

question 39

Multiple Choice

If asked about the basic functioning of the economy,a classical economist would claim that

• A) the market tends toward stability and full employment.
• B) the market tends toward instability and cyclical unemployment.
• C) prices are sticky.
• D) the economy needs help in moving back to full employment.
• E) the short run is more significant than the long run.

---

Definitions:

Existing Ethical Models

Established frameworks or theories that provide guidance on how to make moral decisions and behave ethically.

Ethical Standards

Principles that guide behavior and decision-making based on notions of right and wrong.

National or State Licenses

Official permissions granted by governmental bodies that allow individuals or organizations to practice in certain professions.

Kitchener's Five Moral Principles

A framework in ethics consisting of autonomy, justice, beneficence, nonmaleficence, and fidelity.