McqMate
Q. |
The economist who believed that unemployment is impossible and that market mechanism has a built in regulatory system to meet any ups and downs - |
A. | J.M.Keynes |
B. | Ohlin |
C. | J. B. Say |
D. | Galbraith |
Answer» C. J. B. Say | |
Explanation: The classical economists' belief in full employment as a normal condition of a free market economy is based on Say's Law of Markets. It was on the basis of this law that the classical economists thought that general over- production and hence general unemployment were impossible. The law simply states "supply creates its own demand." |
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