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 | |
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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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