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Classical Economists Believed All of the Following EXCEPT That

Question 110

Multiple Choice

Classical economists believed all of the following EXCEPT that:


A) there could be temporary periods of unemployment.
B) emphasis should be on the long run, and in the long run all would be set right because of the smooth functioning of the price system.
C) the Great Depression would be a short-run aberration.
D) monetary policy could tame the business cycle.

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