Asked by
Heather Layne
on Oct 12, 2024
Verified
The classical economists believed in all the following,except
A) the crude version of the quantity theory of money.
B) laissez faire.
C) the sophisticated version of the quantity theory of money.
D) Say's Law.
Classical Economists
A group of 18th- and 19th-century economists who believed in the theory that markets operate best without government interference, focusing on the importance of free markets for economic development.
Quantity Theory
An economic theory that suggests the general price level of goods and services is directly proportional to the amount of money in circulation.
Laissez Faire
An economic philosophy advocating for minimal governmental intervention in the marketplace and the free operation of supply and demand forces.
- Identify the variances and parallels among classical economists, Keynesians, and monetarists concerning their strategies towards ensuring economic stability and expansion.
Verified Answer
GD
Learning Objectives
- Identify the variances and parallels among classical economists, Keynesians, and monetarists concerning their strategies towards ensuring economic stability and expansion.