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The major schools of macroeconomic thought represent different approaches to understanding how economies function and how policy should be designed. The Classical School is one of the earliest frameworks in macroeconomics. Classical economists believed that markets are self-regulating and tend toward full employment in the long run through flexible prices and _____ _____ ________ _______ ____ ________ _______ ______ _________ _____ _____ ______.
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