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The Keynesian Model and the Classical Model of the Economy

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

The _____ Model more accurately describes economic growth in the _____.

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1. Which model of economic growth more accurately describes economic growth in the long-run?

2. What do classical economists believe?

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About This Quiz & Worksheet

Be prepared to be tested on the differences in the Keynesian and Classical models by answering questions about economic growth and the properties of each model.

Quiz & Worksheet Goals

Explicitly, you will be assessed on your grasp of:

  • Which model is better for predicting long-term economic growth
  • The beliefs of Classical economists
  • Characteristics of wages/prices in the Keynesian Model
  • The beliefs of Keynes

Skills Practiced

  • Critical thinking - apply relevant concepts to examine information about economics in a different light
  • Distinguishing differences - compare and contrast topics from the lesson, such as Keynesian and Classical economics
  • Interpreting information - verify that you can read information regarding these classifications of economic models and interpret it correctly

Additional Learning

If you study our lesson, The Keynesian Model and the Classical Model of the Economy, you can learn even more about this subject. The lesson will be thorough in its teachings of:

  • Economic output
  • Long-term versus short-term economics
  • Pros and cons to Classical and Keynesian economic models
  • Functions of both Classical and Keynesian economic models
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