Supply and Demand Curves in the Classical Model and Keynesian Model

Instructions:

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

question 1 of 3

What is the point at which aggregate supply and aggregate demand intersect?

Create Your Account To Take This Quiz

As a member, you'll also get unlimited access to over 79,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime
Already registered? Log in here for access

1. In the Classical model, what shape is the aggregate supply curve?

2. In the Keynesian model, what is the orientation of the aggregate supply curve?

Create your account to access this entire worksheet
A Premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

About This Quiz & Worksheet

Taking a look at how to achieve balance in our markets, this quiz and corresponding worksheet will assess your knowledge of the supply and demand curves in the Classical and Keynesian models. Topics covered include the point at which aggregate supply and aggregate demand intersect and the characteristics of the aggregate supply curve in the Classical model.

Quiz & Worksheet Goals

Use this printable worksheet and quiz to review:

  • Characteristics of the Classical model
  • Characteristics of the Keynesian model
  • Supply and demand curve problem identification
  • What a vertical aggregate supply curve represents in the Classical model

Skills Practiced

  • Interpreting information - verify you can read information regarding the characteristics of the Classical model and interpret it correctly
  • Reading comprehension - ensure that you draw the most important information from the related economics lesson
  • Problem solving - use acquired knowledge to solve supply and demand curve problems

Additional Learning

Review the corresponding lesson titled Supply and Demand Curves in the Classical Model and Keynesian Model for more information. This lesson will help you:

  • Understand how economists illustrate growth in the economy
  • Identify how to reach a macroeconomic equilibrium
  • Describe the similarities between the Classical and Keynesian models
  • Explain the different assumptions about the economy in the Keynesian model
  • Appreciate how the models show the supply curve
Support