Classical economists Which of the following is not one of Say\'s noncontroversia
ID: 2505854 • Letter: C
Question
Classical economists
Which of the following is not one of Say's noncontroversial propositions according to William Anderson.
The circular flow for the economy shows that households
The equation of exchange, PY = MV
According to JB Say, people use money
Although humans have understood absolute advantage for thousands of years, it was not until the 19th century that _____________ discovered the importance of comparative advantage
- did not believe that money was the source of the ability to buy in the aggregate economy
- stressed the need for money in order to increase aggregate demand
- argued that an increase in money would increase economic activity in the short run
- focused on the role of money as a means of exchange
Explanation / Answer
6.focused on the role of money as a means of exchange
7.transactions demand is the primary reason people want money
8.divide disposable income between consumption and saving
9.shows how money is used to speculate on interest rates
10.to facilitate purchases of goods and services
11.Adam Smith