The Old Classical Macroeconomic Was Based on an Assumption of Price

question 24

Multiple Choice

The old classical macroeconomic was based on an assumption of price and wage ________,and thus an economy that ________.

• A)flexibility,promptly self-corrected
• B)flexibility,failed to self-correct promptly
• C)stickiness,promptly self-corrected
• D)stickiness,failed to self-correct promptly

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Definitions:

Figure

A numeric symbol or a representation of data in graphical form.

Ground

The solid surface of the earth or a specific piece of land.

Perceptual Organization

The process by which the brain interprets and organizes sensory information to form a coherent and recognizable representation of the environment.

Gestalt Psychologists

Psychologists who emphasize that the human mind perceives objects as whole systems rather than the sum of individual parts, focusing on patterns and contexts in psychological processes.