Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Classical economists tend to see unemployment as a persistent economic problem. believe in Keynesian economics. reject the equality of savings and investment. support Say's law.
Classical economists tend to
see unemployment as a persistent economic problem. | |
believe in Keynesian economics. | |
reject the equality of savings and investment. | |
support Say's law. |
Classical economists argued that
there would always be an excess of saving over investment. | |
workers had money illusion. | |
excess savings would create unemployment. | |
a flexible interest rate would make saving equal toinvestment. |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started