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Classical Model

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POOJA PRIYA
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21 views2 pages

Classical Model

Uploaded by

POOJA PRIYA
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Classical Model of Output and

Employment
1. Explain the major differences between classical and Keynesian
macroeconomics. 10 – 2023
2. What will be the shape of the aggregate supply curve in the
Classical and Keynesian models? Give a detailed explanation. 15
– 2022
3. Show that differences in underlying expectation lead to differences
in Keynesian and classical aggregate supply curve. 15 – 2021
4. Show that full employment is the logical conclusion of the Classical
macro model. (2017)
5. Explain how the equilibrium employment and real wage would
change in a typically classical model if, in the event of increase in
supply of labour, money wage becomes rigid. (2017)
6. Discuss the classical dichotomy that money is neutral. (2014)
7. Explain the determination of output and employment in a
macroeconomic under the conditions when individuals are subject
to (i) no money illusion, (ii) money illusion. (2013)
8. Why is under-employment equilibrium possible in Keynesian
economics, but not possible in Classical economics? Give
reasons. (2012)
9. Discuss Say’s law of markets. How far is it relevant to a modern
society? (1999)
10.Supply in any type of market follows demand. Why did J.B. Say
then make the statement that supply creates its own demand?
Explain (1998)
11. Reconcile the apparent contradiction between the following
two statements: (i) "Saving is always equal to investment." (ii)
"Saving is equal to investment only when the economy is in
equilibrium." (1996)
12.how that systematic monetary and fiscal policies are ineffective in
controlling output and price level. (2020)
13. What makes monetary policy ineffective even in the short run?
Explain. (2019)

UPSC IES
14. Monetary policy is the most effective in the classical range
and ineffective in the Keynesian range. Comment. - 5 – 2019
15. Why are the concepts of Dichotomy & Neutrality so important
in classical theory of full employment? - 5 – 2020
16. Discuss the concepts of dichotomy and neutrality of money
in the light of classical, neo-classical and Keynesian economics.
20 – 2022
17.With given aggregate demand and aggregate supply curves there
will normally be only one point of equilibrium but this may not be
the level of full employment. Discuss. 15 – 2019
18. Why is saving in Keynesian system a function of disposable
income but in classical system a function of rate of interest? 5
2021

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