Which of the following statements is inconsistent with Classical Theory? A.The economy will eventually produce at the full-employment level of output. B.The economy is self-regulating. C.The economy has an environment of “invisible hand”. D.The economy has inflexible wages and prices.

Which of the following statements is inconsistent with Classical Theory? A.The economy will eventually produce at the full-employment level of output. B.The economy is self-regulating. C.The economy has an environment of “invisible hand”. D.The economy has inflexible wages and prices.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter14: Aggregate Demand And Supply

Section: Chapter Questions

Problem 17SQ

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Question

Which of the following statements is inconsistent with Classical Theory?

A.The economy will eventually produce at the full-employment level of output.

B.The economy is self-regulating.

C.The economy has an environment of “invisible hand”.

D.The economy has inflexible wages and prices.

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