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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.
What are the characteristics of growth in developed countries? Simon Kuznets specified some characteristics for all DCs (developed countries) as illustrated below: • Gross
#question the importance of managerial economics..
It is significant that the contracts between the main contractor and the customer and between the key contractor and subcontractors are back-to-back; what is meant by that term?
how does the buying and selling of stock fit the model for perfect competition?
Describe the characteristics of Monopolistic Competition
Can less developed countries economies grow by developing services as tourism? Less developed countries economies grow by developing services as tourism when: The less deve
Why does economic development engage structural change? The process of development needs structural change. Usually economies develop by moving resources through agricultural
The average amount of debt families have is 2.5 times their annual income with a standard deviation 0.75 times their annual income. How much debt does a family have to have (relati
how to decentralization aids in citizen mobility
What is the Lewis Model? The Lewis Model argues economic growth needs structural change into the economy whereby surplus labour within traditional agricultural sector along wit
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