In: Economics
The Classical School and the identification of a local/global problem.
a) Identify a local/global problem that might be caused by the application of a policy that is based on a theory or concept of the Classical school.
Your answer needs to provide at least three paragraphs.
The first paragraph identifies and explains in your own words the concept or theory of the Classical School
The second paragraph identifies and explains the a local/global
problem.
The third paragraph explains the connection between the economic
concept/theory and the local problem