Macro

macro CLASSICAL MACROECONOMICS Classical macroeconomics is the theory and the unblemished face of the economists Adam Smith, David Ricardo, John Mills and Jean Baptiste Say. Below the assumptions of the incorrupt macroeconomics ar described. 1. Assumptions:  Competitive food food markets: Classical theories completely make umteen assumptions about the markets and their competitiveness.these assumptions are that all the markets are easy to encipher and exit. No monopoly elements are present in the market to balk newcomers from entering the market or taenia the present ones from quiting the market. Pricess and pays are flexible in both(prenominal) upward and down directions according to the demand and supply forces. No single seller or buyer of a ingathering has sufficient market power to influence the industry price, nor does either supplier or purchaser of labor services meet sufficient market power to influence the market wage rate. Thus all economic agents are price-takers and not ...If you sine qua non to get a full essay, order it on our website: OrderCustomPaper.com

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