
Classical vs Keynesian Economics
Quiz
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Others
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12th Grade
•
Hard
noemi gonzalez
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8 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main idea of value theory?
The main idea of value theory is to understand the nature and significance of values in human life.
Value theory focuses solely on economic transactions.
Value theory is primarily concerned with scientific measurements.
The main idea of value theory is to analyze historical events.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does the government help the economy?
The government only collects taxes from citizens.
The government has no impact on the economy.
The government primarily focuses on military spending.
The government helps the economy by implementing fiscal policies, regulating industries, and providing public goods and services.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens during an economic cycle?
An economic cycle consists of only a single phase of recession.
An economic cycle only includes periods of growth.
An economic cycle involves phases of expansion, peak, contraction, and trough.
Economic cycles are solely determined by government policies.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is saving money important?
Saving money is only necessary for the wealthy.
Saving money is not important for anyone under 30.
You should spend all your money to enjoy life now.
Saving money is crucial for financial security and achieving future goals.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is consumption in economics?
Consumption is the total income earned by households.
Consumption is the use of goods and services by households.
Consumption is the savings accumulated by individuals.
Consumption refers to the production of goods and services.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does aggregate demand mean?
Aggregate demand refers to the total demand for goods and services within a particular market.
Aggregate demand is the total amount of money in circulation within a market.
Aggregate demand is the total supply of goods and services in an economy.
Aggregate demand refers to the demand for a specific product only.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do classical and Keynesian views differ on state intervention?
Classical views support extensive government control, while Keynesian views oppose it.
Both classical and Keynesian views agree on the need for constant state intervention.
Classical views favor minimal state intervention, while Keynesian views advocate for active state intervention.
Classical views advocate for intervention only during economic crises, while Keynesian views reject any intervention.
8.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What role does consumer spending play in the economy?
Consumer spending has no impact on economic growth.
Consumer spending is a key driver of economic growth and demand.
Consumer spending only affects individual households, not the economy.
Consumer spending is primarily driven by government policies.
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