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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.
How does culture influence the development process? Culture influences what is of value into a society and affects how individuals, communities and organisations react to modi
What is the development gap? The development gap refers to the divergence between standards of living in the developed and developing world. As like Source World Bank:
Define methods which can be used to monitor supplier performance. Methods to monitor supplier performance are as follows: a. Approval of designs: The organisation comments o
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FOUR CAUSES OF SLOW OF SOUTH AFRICA ECONOMY
Are international capital flows a problem? Problem: Capital flows can have an adverse outcome onto: a. Balance of payments (BoP): Shortly term capital inflows can be like:
Assume that the per capita income in Alfaland (with initial high per capita income) is growing quicker than it is in Betaland (with initial low per capita income). Then: the gap in
Suppose you are the only market analyst in your company's management team. Your company belongs to the energy industry. It is an oil and gas company engaged in the exploration, d
How do economists differ from accountants in the use of the term profit ? Definition of rev and accounting costs Explanation/outline of opportunity costs, for example
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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