UGC NET
Ayushi Asked a Question
August 25, 2020 9:25 pmpts 30 pts
  • UGC NET
  • Economics

58. which of the following statement about classical theory of employment is not true ? (1) it treats saving as real leakage (2) it believes that real wage is e

58. Which of the following statement about classical theory of employment is not true ? (1) It treats saving as real leakage (2) It believes that real wage is equal to marginal productivity of labour in equilibrium (3) It argues that money is not an asset (4) It claims that aggregate supply is perfectly inelastic.
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  • Nidhi taparia Best Answer
    option (1) is the answer. Classicals believed whatever is saved is put into the system in the form of investment. So Savings are not a leakage.
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