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Keynesian economics policy could be distinguished from the classical economics as the main through of the classical theory is that supply creates its own demand which is described under say law Keynes stressed on the second school of thoughts in the says law which is that the aggregate sales which is resulted from the demand is responsible to cover the cost of the output. Keynes father explained that this description of the say's law is only hold if aggregate demand in the certain economy is exactly matched with the individual savings. The determinants of production consumption savings and investment have been explained by the Keynes. Thestages of employment and output in any economy are determined through the interaction of the aggregate demand and aggregate supply. The full employment in any economy will automatically be handled by the adjusted in the price is the main theme of the Keynes theory.
Keynes gave better policy to wages and spending as he determent wages as more complicated terminology .the negotiation between worker and buyer result in sitting the nominal income but not the real. The Keynes theory advocates eliminating minimum wages rate in the economy long contracts unions and increasing labour marketing flexibility.
Fiscal policies may have non-Keynesian effects such as cutting and spending and putting the savings in to cutting corporation tax or other hand taxes shall create the confidence for spending growth without cutting this beloved deficit..on private consumption and Investment decisions. It is therefore relevant to identify the conditions under which a Fiscal expansion may either contribute to the increase of economic activity or deploy a Recession.
(a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the comm
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This is concerned with any one of the following forms. controlling the supply of money controlling interest rates Rationing the amount of credit granted by banks
explain total productivity
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Why might the point at which the long-run average cost curve levels out change over long periods of time? include a diagram.
An individual holds B_0 dollars in a saving accountant at t=0 and earns continuously compounded interest at a nominal rate r. Therefore, the nominal value of his savings at time t
How does colonial background influence the development process? Colonial experience influences: • Language for example the official language of US is English. • Legal and
Problem 1: (a) Distinguish between the two broad aspects of globalization. (b) Critically analyse the drivers of globalisation. (c) Discuss, with examples, on the advanta
Fiscal Policy The government's use of spending and taxation to affect the stage of macroeconomic moment. In theory, weak economic activity needs simulative fiscal policy, which
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