Practice The Classical vs. Keynesian View on Income and Employment - 2.2.7 | Chapter 2: Theory of Income and Employment | ICSE Class 12 Economics
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Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What is Say's Law?

💡 Hint: Think about the relationship between supply and demand.

Question 2

Easy

What role does the government play in Classical economics?

💡 Hint: Consider how Classical economists view market behavior.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What does Say's Law imply?

  • Supply creates demand
  • Demand creates supply
  • Markets are always in equilibrium

💡 Hint: Think about the flow of goods in the economy.

Question 2

True or False: Keynesian economics argues for minimal government intervention.

  • True
  • False

💡 Hint: Consider how Keynes viewed government roles during recessions.

Solve 1 more question and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

Evaluate the effectiveness of Keynesian policies during a specific economic downturn, such as the 2008 financial crisis. Consider both successes and criticisms.

💡 Hint: Look into the role of stimulus packages and their impact on unemployment rates.

Question 2

Discuss how Classical economists would respond to a recession compared to Keynesians. What are the potential consequences of each approach?

💡 Hint: Consider the short-term and long-term effects of market correction versus government action.

Challenge and get performance evaluation