Which of the following is a basic part of the Classical School of economic thought?
A.
Market systems may reach equilibrium at any level of output.
B.
Short-run inflation is unlikely to occur.
C.
Short-run unemployment is unlikely to occur
D.
Prices and wages are flexible
Exam No：AP Macroeconomics Problem Set 3 Year：2024 Question No：APMacroeconomics2024AP0095
Answer:
D
Knowledge points:
2.3 Unemployment
2.5 Costs of Inflation
5.3 Money Growth and Inflation
Solution:
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