The Classical Economists Assumed

question 37

Multiple Choice

The classical economists assumed

• A) That the volume of final output is fixed at the full-employment level in the long-run
• B) The velocity of money is constant
• C) The velocity of money depends on physical,structural,and institutional factors
• D) All of the above

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Definitions:

Emotion

A complex psychological state involving an individual's state of mind, physiological changes, and an outward expression or behavior.

Physiological Changes

Alterations in the normal functions of living organisms, often as a response to environmental or internal processes.

James-Lange Theory

A psychological theory suggesting that emotions occur as a result of physiological reactions to events.

Physiological Changes

Alterations in the body's normal biological functions, which can occur due to various factors like stress, disease, or age.