UGC NET
Ayushi Asked a Question
August 12, 2020 2:10 pmpts 30 pts
  • UGC NET
  • Economics

71. which of the following is not a feature of classical school ? 71. (1) treating money only as medium of exhange (2) belief in wage and price inlexibility (3)

71. Which of the following is NOT a feature of classical school ? 71. (1) Treating money only as medium of exhange (2) Belief in wage and price inlexibility (3) Assumption of perfect competition (4) Both (2) and (3
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  • Nidhi taparia Best Answer
    71. The correct answer is (2). The classical school is based on the assumption of flexibility of wages, interest and prices. This means that wage rate, interest rate and price leve...
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