Popularity of classical economics

Assignment Help Business Economics
Reference no: EM132256405

Explain how the Great Depression weakened the popularity of classical economics and opened the way to Keynesian economics.

The Great Depression was fairly criticized because of the classical economics it adopted wherein Government was not allowed to intervene in making structural changes and monetary policy using interest rates and open market operations was adopted. All this led to inefficiency in market and deflationary curve leading to bankruptcy and massive depression. Hence Keynesian view was later adopted with expansionary fiscal policy.

Reference no: EM132256405

Questions Cloud

What are some of the events : Since Janurary 1st, 2019, what are some of the events (political, economic, social etc.), domestic and internationally, that have effected
What are the ethical considerations in the given case : Imagine you are the assistant controller in charge of general ledger accounting at Linbarger Company. Your company has a large loan from an insurance company.
Review the incident action plan excel file : Explain why having access to this tool and knowing how to use it will enhance your ICS knowledge.
Discuss about a candid analysis of professional objectives : Please outline your reasons for applying to the program. Include a candid analysis of professional objectives, both long- and short-term.
Popularity of classical economics : Explain how the Great Depression weakened the popularity of classical economics and opened the way to Keynesian economics.
Explain the causes of the global financial : Please paraphrase these questions Explain the Causes of the Global Financial and Economic Crisis that Started in the U.S. in 2007.
Attempting to finance business activities : As the reference value rises and falls, so does the currency pegged to it. Many developing economies and some emerging markets use this system today
Discuss inductive versus deductive reasoning : Discuss inductive versus deductive reasoning and how you would apply the concepts of each to the unsolved crime scene.
Is your core competency transferrable to other opportunities : Your company's core competency is a highly significant strategic resource which differentiates your company from its competitors. It is the activity, resource.

Reviews

Write a Review

Business Economics Questions & Answers

  Explain completely the mechanism through

Explain completely the mechanism through which a change in the following will change the money supply, M1.

  What is the equilibrium price and equilibrium quantity

a. What is the equilibrium price and equilibrium quantity? b. What is the price elasticity of demand at the equilibrium?

  Discuss an increase in the personal income tax will slow

Discuss an increase in the personal income tax will slow the growth rate of the economy.

  Calculate the price elasticity of demand of gasoline

Explain how you would calculate the price elasticity of demand of gasoline? In general terms, explain how consumer and producer surplus will change as a result of this price increase?

  Determine the opportunity cost of additional production

Use the table to answer questions. Using the table provided in Step 1, answer the following questions in a one-page (250-word) document: Determine the opportunity cost of additional production at different outputs. Determine which particular combinat..

  Accounting and tax services for medical establishment

Medfin Accounting Company (MAC) specializes in providing accounting and tax services for medical establishment and professionals. Presently, the company's production method is highly labor-intensive because many of the book keeping tasks are done man..

  What are the long-run effects of the decrease in the MPC

Consider the AD/AS model of the economy built from the IS/LM, and assume that the SRAS is upward sloping. The economy is currently operating at the full employment level of output. What are the short-run effects of the decrease in the MPC?  What are ..

  Signs of recovery in our region of the country

Have you witnessed signs of recovery in our region of the country? In what stage of the business cycle are we in?

  Market for synthetic leather baseball gloves

If aliens come and take a large percentage of our cows what happens in the market for synthetic leather baseball gloves? (Assume a normal competitive market)(Show the graph, label all relevant points, and explain what happens to price and quantity. E..

  What is the optimal price

(a) If you charge a price per minute, what is the optimal price?

  Income distribution data for taxes and transfer payments

In general, correcting income distribution data for taxes and transfer payments results in:

  Use to get a policy like this adopted and implemented

After the horrific terrorist attacks that occurred in the United States on 9/11/2001,a PR firm represented the Allied Pilots Association in that organization's campaign to gain airline pilots the right to carry guns in the cockpit. What type of resea..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd