According to the classical economists, the only gainers from growth would be ?
Correct answer: A. landlords
- A. landlords
- B. peasants
- C. The army
- D. politicians
Explanation
In classical distribution theory, landlords were expected to gain from growth because expanding production and population raise the demand for land and economic rent. Workers were generally assumed to remain near subsistence wages, while profits could be squeezed.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Macroeconomics
The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
Practise Macroeconomics
1,499 free Macroeconomics MCQs from Economics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Economics questions like this
Economics is on 3 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Macroeconomics questions
Total withdrawals from the circular flow of income include ?
Equilibrium in the circular flow of income occurs when ?
The underground economy consists of ?
It has become conventional classify a recession as a period where national output falls for _________ or more?
The index used most often to measure inflation is the?
The percentage of the labor force that is unemployed is the ?