The classical economists believed that wages, prices, and interest rates were flexible in both the upward and the downward direction

Indicate whether the statement is true or false


True

Economics

You might also like to view...

The quantity theory of money ________

A) is the product of classical economists B) links total income to a country's supply of money C) is derived from the equation of exchange D) all of the above E) none of the above

Economics

The shift from wanting to own all to owning only what is needed is an example of a _________________

a. Paradigm shift b. Goal re-evaluation c. Reformation d. Retro-change

Economics

As the economy declines into recession, the collection of personal income tax revenues automatically falls. This phenomenon best illustrates how a progressive income-tax system:

A. Increases crowding out in the economy B. Decreases real interest rates in the economy C. Offsets the timing problem for fiscal policy D. Serves as an automatic stabilizer for the economy

Economics

Secure rights to land provided colonists with incentive to use the land productively, conserve it and invest in it

Indicate whether the statement is true or false

Economics