Progressive Economists Such as Wesley Mitchell

Multiple Choice

Progressive economists such as Wesley Mitchell

A) showed that capitalist economies often do not produce equilibrium but do produce a business cycle with booms and busts.
B) claimed that the internal workings of market capitalism produce an economy without booms or busts or price inflation that the market could not correct quickly.
C) claimed that unemployment and inflation are caused by factors external to the economy and are not due to how the economy itself operates.
D) argued that aggregate demand must always equal aggregate supply at any level of supply.