Final answer:
New classical economists are the group that believes in the economy's self-correction to full employment after a disturbance, in contrast to Keynesians who support active policy intervention.
Step-by-step explanation:
Among the options provided, it is the new classical economists who believe that the economy self-corrects when unanticipated events divert it from its full employment level of real output. This belief stems from the classical economic theory, which posits that with flexible prices, the economy would return to full employment relatively quickly after experiencing a shock. In contrast, Keynesians tend to advocate for active policy measures to counteract recessions, as they are skeptical about the economy's ability to self-correct efficiently.
New classical economists believe in the principle that free markets are the most efficient way to organize an economy. This school of thought holds that in a free market, rational actors, acting on full information, will adjust their behavior to optimize their satisfaction.
This adjustment occurs so quickly that the market is always at or near equilibrium, meaning that supply and demand are nearly equal. They further believe in the importance of focusing on microeconomic foundations to explain macroeconomic phenomena. These economists also oppose the emphasis that Keynesian economics puts on government intervention in an economy.J11