
Classical Economics
Authored by Carissa Ramnarine
Business
12th Grade
Used 2+ times

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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT an assumption of Classical Economics?
Prices are flexible
Supply creates demand
Savings = investment
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The graph represents
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Define the term voluntary unemployment
Voluntary unemployment is the situation where individuals are unemployed by choice, as they are unwilling to accept the given wage rate in the market
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The demand for labour comes from
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The supply of labour comes from
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The vertical axis (y axis) in the labour market represents
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The horizontal axis (x axis) in the labour market represents
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