ECO342
Question: According to Say’s Law, supply creates its own as prices move to balance demand with aggregate supply
Answer: demand
Question: The of money is a stock at a particular time and it is the total amount of money in the economy
Answer: unit
Question: The Modem Quantity theorists headed by Friedman defined money supply as M1 plus time deposits of commercial banks and this is known as
Answer: M2
Question: Classical Economies is the school of economics thoughtheaded by Adam Smith in
Answer: 1776
Question: Given Y = C + I + G + X M Where, C = 100+0.6Yd, Yd = Y T, T = 60+0.1 Y, I = 50+0.2Y, G = N100m, X = N80m, M = N50m.Determine the equilibrium national income
Answer: None of the Options
Question: National income models can be classified into two, namely and Keynesian model
Answer: classical model
Question: The concepts of aggregate savings, consumption and investments refers to the totality of savings,Consumptions and in any given economy
Answer: investments
Question: The classicalmodel was the first national income model dated back in century
Answer: 17th
Question: Keynesian Economies is the body of economics thought developed by John Maynard Keynes who held the view that a capitalist system did not automatically tends towards equilibrium.
Answer: full employment
Question: An economy consist of external sector which determine the level ofeconomy dependency and foreign exchange conservation and reservatio
Answer: open
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