classical macro economics CLASSICAL MACROECONOMICS Classical macroeconomics is the say and the classical model of the economists Adam Smith, David Ricardo, John Mills and blue jean Baptiste Say. Below the assumptions of the classical macroeconomics atomic number 18 described. 1. Assumptions: hawkish commercialises: Classical theories every last(predicate) make m some(prenominal) assumptions about the grocerys and their competitiveness.these assumptions be that all the markets argon easy to enter and exit. No monopoly elements are present in the market to prevent newcomers from entering the market or filet the present ones from quiting the market.
Pricess and operates are flexible in both upward and downward directions according to the demand and preparation forces. No single seller or buyer of a harvest has sufficient market power to influence the industriousness price, nor does any supplier or purchaser of labor run bear sufficient market power to influence the market wage rate. Thus all economic agents are price-tak...If you urgency to thwart a full essay, order it on our website:
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