Asked by zachery spence on May 27, 2024
Verified
Which of the following is true about classical economists?
A) They argued that the sources of depressions and high unemployment lay within the market system.
B) They advocated laissez-faire policies to promote economic growth.
C) They believed the economy would naturally tend toward unemployment.
D) They believed prices and wages were rigid.
E) They encouraged government intervention in markets.
Classical Economists
Refers to economists from the 18th and early 19th centuries who focused on economic growth, free markets, and the importance of limited government intervention.
Laissez-faire Policies
An economic policy of non-intervention where private parties are free from government restrictions, tariffs, and subsidies.
- Learn about the differing economic viewpoints between classical and Keynesian economists.
Verified Answer
KS
Khooshal SeechurnMay 30, 2024
Final Answer :
B
Explanation :
Classical economists generally supported the idea of laissez-faire, which promotes minimal government intervention in markets. They believed that markets are self-regulating and will naturally lead to economic growth and prosperity.
Learning Objectives
- Learn about the differing economic viewpoints between classical and Keynesian economists.