The New Economic Paradigm (Grade 12 NSC Matric Economics): Quizzes
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Practise the questions
10 questions from this quiz
What does the new economic paradigm emphasise over short-term policies?
What does the new economic paradigm emphasise over short-term policies?
Long-term stability
What do demand-side policies primarily aim to influence?
What do demand-side policies primarily aim to influence?
Aggregate demand
When does demand-side policy cause upward pressure on prices?
When does demand-side policy cause upward pressure on prices?
Demand rises faster than supply
What relationship does the Phillips curve demonstrate?
What relationship does the Phillips curve demonstrate?
Unemployment & inflation inverse link
What is the primary aim of supply-side policies?
What is the primary aim of supply-side policies?
Increase aggregate supply
Which is a method to reduce production costs under supply-side policies?
Which is a method to reduce production costs under supply-side policies?
Improved infrastructure
What improves efficiency of inputs in supply-side policies?
What improves efficiency of inputs in supply-side policies?
Education & training programmes
Which policy improves market efficiency under supply-side approach?
Which policy improves market efficiency under supply-side approach?
Deregulation
Why are supply-side policies valuable for controlling inflation?
Why are supply-side policies valuable for controlling inflation?
They expand productive capacity
What shift does the new paradigm represent from Keynesian economics?
What shift does the new paradigm represent from Keynesian economics?
Active intervention to hands-off