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The concept of a "cluster of errors" is relevant to which economic school of thought? Keynesianism...

The concept of a "cluster of errors" is relevant to which economic school of thought?

Keynesianism

Classical

Marxian

Austrian
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Answer #1

The cluster of errors is highly relevant to the Austrian school of thought and this is because it explain the phenomenon of cluster of errors by the change in the quantity of money where the school of thought tells that the error is in the form of low interest rates then the prevailing social time preference on the whole and that is the reason why you have to understand that

(D) Austrian is the answer

because the other schools of thought have never pointed out about cluster of errors it can be mentioned

(a,b,c) are wrong

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