Why is the new classical theory associated with the word classical? Why has it been said that

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Why is the new classical theory associated with the word

“classical?” Why has it been said that classical theory failed where new classical theory succeeds—because the former could not explain the business cycle (the ups and downs of the economy), but the latter can?

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Microeconomics

ISBN: 9780357720639

14th Edition

Authors: Roger A. Arnold, Daniel R Arnold, David H Arnold

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Question Posted: Nov 01, 2024 07:00 AM

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Why is the new classical theory associated with the word classical? Why has it been said that

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Microeconomics

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