Economics:
Economics:
10th Edition
ISBN: 9781285859460
Author: BOYES, William
Publisher: Cengage Learning
Question
Book Icon
Chapter 15, Problem 3E
To determine

To explain:

The difference between old and new classical economics.

Blurred answer
Students have asked these similar questions
Differentiate between classical and neo-classical economics.
How do Classical economists and Keynesian economists differ in their perceptions of how well markets and prices function?
One practical limitation of the Classical or Neoclassical model is that it suggests allowing the economy to self-correct in the long run, but recessions may last a very long time. How severe is this problem and why? What is one example?
Knowledge Booster
Background pattern image
Recommended textbooks for you
Text book image
Macroeconomics
Economics
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Cengage Learning
Text book image
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning