Classical Economists Believe That ________

question 28

Multiple Choice

Classical economists believe that ________.

• A)it takes a long time for economic variables to reach equilibrium
• B)short-run fluctuations are too infrequent and mild to be of much interest
• C)real variables like output and investment are not determined by nominal variables
• D)all of the above
• E)none of the above

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Definitions:

Belief Systems

A set of principles or tenets which together form the basis of a religion, ideology, or personal philosophy.

Conflict Theory

A sociological perspective that emphasizes the role of power disparities, economic interests, and social conflict in shaping societal structures and relationships.

Dysfunctions

Elements or aspects of a society that may disrupt or harm its stability and functionality.

Social Order

The arrangement of practices and behaviors on which society’s members base their daily lives, aimed at maintaining stability and predictability.