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- Could you please explain why the classical economists thought there was no inherent tendency in the market system to overproduction, recession, and depression.Why is the economic indicator “consumer sentiment” relevant for making successful policy decisions?Which of the following areas are addressed in the study of economics? (check all that apply) A. Inflation ratesInflation rates. B. Pollution reduction policiesPollution reduction policies. C. The costs associated with a decisionThe costs associated with a decision. D. Financial marketsFinancial markets.
- The number of people in any place is the result of three major factors. Name these factors and define them. thanks forwardedIdentify principles of classical and neoclassical economics and summarize theirimplications for the environmentSuppose wages and prices are flexible, people form their expectations rationally, and they anticipate policy incorrectly.What happens?
- Which worldview makes the most sense?Keynesian perspective or the Neoclassical perspective of economics and why?Differentiate between classical and neo-classical economics.explain why classical economists thought there was no inherent tendency in the market system to overproduction, recession and depression
- During the 2008-2011 financial crisis, two members of Congress proposed reinstituting the military draft as a solution to high unemployment, citing the experience of World War II. Would this have been a viable policy option? Discuss.What does the term exogenous money supply mean? a. The money supply is determined by external factors b. The money supply is controlled by households c. The money supply is determined by the central bank d. The money supply is determined by market forces.How Many decisions in business and economics require quantitative estimates? why ?