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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

According to classical economists, does Say’s law hold in a money economy? Explain your answer.

To determine

Explain Say’s law in the viewpoint of classical economists.

Explanation

According to classical economists, Say’s law holds in a money economy; here, the interest rate is flexible, and the added saving will put pressure on the interest rate to decrease...

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