Asked by lydia snyder on May 06, 2024
Verified
The ______ believed that our economy was self-regulating and argued against government interference with its operations.
A) classical economists
B) supply-side economists
C) Keynesians
D) economic behaviorists
E) monetarists
Classical Economists
Early economic theorists, primarily in the 18th and 19th centuries, who focused on the role of free markets in promoting economic growth and believed in minimal government intervention.
Supply-Side Economists
Economists who believe that reducing tax rates and regulatory barriers to production are the best ways to increase economic growth.
Keynesians
Economists and theories following John Maynard Keynes, advocating for government intervention to manage economic cycles and promote full employment.
- Absorb the basic ideas that constitute the classical and Keynesian approaches to economics.
- Recognize the significance of Say's law and its relevance to classical economics.
Verified Answer
FD
Felicia DixonMay 13, 2024
Final Answer :
A
Explanation :
The belief that our economy is self-regulating and that government interference should be limited is a key principle of classical economists. Supply-side economists focus on increasing the supply of goods and services to stimulate economic growth, Keynesians emphasize the importance of government intervention during times of recession, economic behaviorists examine how individuals make economic decisions, and monetarists emphasize the role of the money supply in economic stability.
Learning Objectives
- Absorb the basic ideas that constitute the classical and Keynesian approaches to economics.
- Recognize the significance of Say's law and its relevance to classical economics.