Economics · Macroeconomic Theories
Match the economic model or theory in Column I with its key characteristics in Column II: Column I: 1. Classical model2. Keynesian model3. Effective demand theory4. Say's Law Column II: A. Underemployment equilibrium possible B. Wage-price flexibility ensures full employment C. Intersection of AD and AS determines employment D. Supply creates its own demand
- 11-C, 2-B, 3-A, 4-D
- 21-A, 2-D, 3-C, 4-B
- 31-D, 2-B, 3-A, 4-C
- 41-B, 2-A, 3-C, 4-D✓
Correct answer
1-B, 2-A, 3-C, 4-D
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