Critically examine the main implications of …
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Meghna Thapar 4 years, 10 months ago
Classical economics emphasizes the fact that free markets lead to an efficient outcome and are self-regulating. In macroeconomics, classical economics assumes the long-run aggregate supply curve is inelastic; therefore any deviation from full employment will only be temporary. The central idea of classical economics is that free markets are self-regulating.
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