Practicing Success
Practicing Success
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Which of the following statements is true? Statement 1- The Keynesian theory believes that full employment is a normal feature of a capitalist economy. Statement 2- The classical economists believed that full employment is an ideal situation, but an economy can be in equilibrium even at less than full employment level. |
Only statement 1 is true Only statement 2 is true Both statement 1 and statement 2 are true Neither statement 1 nor statement 2 is true |
Neither statement 1 nor statement 2 is true |
The Classical economists believed that full employment is a normal feature of a capitalist economy. Whereas, Keynesian theory believed that full employment is an ideal situation, but an economy can be in equilibrium even at less than full employment level. |
