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Question No. 4:(10) a) Why do Classical Economists believe that the economy always operates at full employment level. Explain in the context of Prices and

Question No. 4:(10) a) Why do Classical Economists believe that the economy always operates at full employment level. Explain in the context of Prices and Wages

b) Differentiate between classical and Keynesian Economics on the basis of their view of

i) Employment, ii) Government Intervention, and iii) rigidity/flexibility of wages and prices

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