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Net Economics #Classical Economists and their work# Economic theory

 Net Economics #Classical Economists and their work# Economic theory Pls follow , like and share Classical economics, also known as classical political economy, is a school of economic thought that emerged in the late 18th and early 19th centuries. It laid the foundation for modern economics and was dominant until the late 19th century. Classical economists focused on understanding the mechanisms of economic growth, production, and distribution of goods and services in market economies significant contributions and the years in which they were active: Adam Smith (1723-1790): Major Work: "The Wealth of Nations" (1776) Contributions: Smith is often referred to as the father of economics. In "The Wealth of Nations," he introduced the concept of the invisible hand, arguing that individuals pursuing their own self-interest in a free market economy unintentionally promote the general welfare. He also discussed the division of labor, productivity, and the role of markets i

UGC NET Macroeconomics MCQ Test series 1 for upsc and other competions exams www.iemsnet.com

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UGC NET Macroeconomics MCQ Test series 1 for upsc and other Ugc Net Macroeconomics MCQ Below are the Mcq for macro economics Test series 1.Kindly comment your answer in comment box.We will send answers to your email id. Stay tuned and subscribed for test series 2  https://www.iemsnet.com/2020/01/ugc-net-macroeconomics-test-series-2.html?m=1 MACRO ECONOMICS MCQs www.iemsnet.com 1. Excess demand for money, according to Say’s law in the Economy: (A) Is greater (B) Is very less (C) Is equal to zero (D) There is no relationship between excess demand for money and Say’s Law 2. Which of the following is not an assumption of classical theory? (A) Price flexibility (B) Unemployment (C) Say’s law (D) Neutrality of money 3. In classical theory the equality between saving and investment is brought about by: (A) Rate of interest (B) Income (C) Consumption (D) Multiplier 4. The normal condition of a capitalist economy in classical theory is: (A) Underemployment

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