Question

explain the classical theory of income and employment
​

Answer 1

Explanation:

The Classical theory of Income and Employment states that full employment is a normal feature of a capitalist economy. The classical theory of employment rules out the possibility of unemployment in a free market economy. According to classical economists the economy would never be in a full employment equilibrium.

Answer 2

Answer:

The Classical theory of Income and Employment states that full employment is a normal feature of a capitalist economy. The classical theory of employment rules out the possibility of unemployment in a free market economy. According to classical economists the economy would never be in a full employment equilibrium.