Classical theory believes that the nature law of economics determines price and factor payments, such as the personal interests and competition. Also economy is self‐regulating. Classical economists believe that economy is capable achiev 正在翻译,请等待... [translate] ...
Classical economists believe that the commodities markets will also always be in equilibrium, due to flexible prices. If the supply is high and there is inadequate demand for it, it is a temporary situation. The prices for the commodity in question, decrease, to equate the demand and supply ...
New classical economists believe expansionary fiscal policy has no affect on aggregate demand because:() A. fiscal policy does not influence monetary policy. B. fiscal policy substitutes government demand for private sector demand. C. consumers will decrease spending and increase savings in anticipation...
2. What do classical economists believe? The economy is self-correcting. The economy needs fiscal policy. The economy gets stuck. Inflation is necessary. Wages are sticky. Create your account to access this entire worksheet A Premium account gives you access to all lesson, practice ex...
Neo-classical economists believe that the LRAS curve is perfectly inelastic at the full employment level of output. They believe that the potential output of the economy is dependent on the quantity and quality of the factors of production and is independent of the price level. In the long ...
But economists most influenced by liberalism have some role in public opinion, though less so in shaping public policy. Given the huge tasks ahead in Chinese reform, liberals need to strengthen these networks, and to gain support from entrepreneurs in particular. 展开 ...
1. New classical economists argued that Keynesian economics was theoretically inadequate because it was not based on microeconomic foundations. According to them, macroeconomic models should be based on firm microeconomic foundations. ADVERTISEMENTS: ...
“I believe, however, that, so far as some of the best British economists were concerned, their support of Bretton Woods was determined more by a misguided patriotism – the hope that it would benefit Britain in her post-war difficulties – than by a belief that it would p...
Local environmental issues clearly can yield to market solutions, but few people seem to believe that incipient global environmental degradation, specifically human-induced climate change, can be solved...
The Say's law that equates the demand and supply in an economy actually applies to aggregates and not single goods and commodities. Classical economists believe that the commodities markets will also always be in equilibrium, due to flexible prices. If the supply is high and there is inadequat...