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Concept of an intertemporal preference change

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Reference no: EM132601280

What does Keynes identify as the primary cause of economic downturns? Explain.

  1. Explain the concept of an 'intertemporal preference change'?
  2. What is the effect of an artificially low rate of interest on 1) the PPF; 2) the Hayekian triangle; and 3) early and late stage labor markets?
  3. Use Mises' home builder analogy to explain the bust phase of the business cycle.

Reference no: EM132601280

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