Economics · Economic Thought

According to Classical Economists, which of the following statements holds true?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Continuous demand stimulus from the government is needed to maintain full employment.
2Wage levels are always 'sticky' or rigid downwards.
3Involuntary unemployment will not be a serious or permanent problem in a market economy.✓
4Say's Law is not valid in the long run.

Correct answer

Involuntary unemployment will not be a serious or permanent problem in a market economy.

Save this question and verified answer as a clean study sheet with live clickable link.

👥

Challenge your peer aspirants on WhatsApp or Telegram to solve this question!

Online Test Series

Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.

Chapter Practice

Want more practice questions on Economic Thought?

Solve complete topic-wise tests with detailed solutions on GkGet.

Recommended practice questions in Economics · Economic Thought

Mahatma Gandhi's last fast unto death in 1948 was primarily against which of the following?

What was the primary meaning of 'Swaraj' as popularized by Mahatma Gandhi during India's independence movement?

What was one major impact of India’s independence on its economy?

Related Practice Questions