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Froggy Jumps
Froggy Jumps

CLASSICAL ECONOMIC MODEL set 4

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CLASSICAL ECONOMIC MODEL set 4

Froggy Jumps

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About this activity

ECONOMICS

Created by

Norain
Norain
Malaysia
This game is a version of
CLASSICAL ECONOMIC MODEL set 3

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CLASSICAL ECONOMIC MODEL set 4
 

Froggy Jumps

CLASSICAL ECONOMIC MODEL set 4Online version

ECONOMICS

by Norain
1

Which of the following are main characteristics of Classical economic model? I.Focuses on real factors. II.Stresses on tendencies towards automatic adjustment. III.Assumes asymmetric information. IV.Emphasizes market equilibrium.

2

According to Classical economic model, employment is determined by

3

In Classical labour market, an increase in price level causes

4

Classical AS curve shifts to the right is caused by the following factors except

5

The quantity theory of money is based on the equation of exchange, MV = Py where V and y are constant. Assume that individuals want to hold money ¼ of nominal income (Py) where the nominal income is RM2000. Determine velocity of money (V).

6

The quantity theory of money is based on the equation of exchange, MV = Py where V and y are constant. Assume that individuals want to hold money ¼ of nominal income (Py) where the nominal income is RM2000. How much is money supply (M).

 
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