The Assumptions of Classical Macroeconomics (1954 words, 5 pages)
CLASSICAL MACROECONOMICSClassical macroeconomics is the theory and the classical model of the economists Adam Smith, David Ricardo, John Mills and Jean Baptiste Say. Below the assumptions of the classical macroeconomics are described.1. Assumptions Competitive markets Classical theories all make many assumptions about the markets and their competitiveness.these assumptions are that ...
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