Every able bodied person who is willing to work at the prevailing wage rate is employed called as ___________

(a)

Full employment

(b)

Under employment

(c)

Unemployment

(d)

Employment opportunity

The core of the classical theory of employment is____________

(a)

Law of Diminishing Return

(b)

Law of Demand

(c)

Law of Markets

(d)

Law of Consumption

_________ Flexibility brings equality between saving and investment

(a)

Demand

(b)

Supply

(c)

Capital

(d)

Interest

________ theory is a turning point in the development of modern economic theory.

(a)

Keynes’

(b)

Say’s

(c)

Classical

(d)

Employmen

The basic concept used in Keynes Theory of Employment and Income is__________

(a)

Aggregate demand

(b)

Aggregate supply

(c)

Effective demand

(d)

Marginal Propensity Consume

List out the assumptions of Say’s law.

What is effective demand?

What are the components of aggregate supply?

According to classical theory of employment, how wage reduction solve the problem of unemployment diagramatically explain.

What do you mean by aggregate demand ? Mention its components.

Write any five differences between classism and Keynesianism.

Describe the types of unemployment

Explain the differences between classical theory and Keynes theory.