Develope a model of the economy

Reference no: EM131302668

John Maynard Keynes and John Hicks developed a model of the economy in which total output is determined solely by total spending with little or no consideration of the supply (production) side of the economy.

Why would Keynes and Hicks writing during the Great Depression be likely to develop a model of the economy that focused only on total spending?

Reference no: EM131302668

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