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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.
In brief, the price of anything is based on comparative benefit. If Adam makes clocks better and cheaper than Bill, all clock production should go to Adam.
the basic assumption of the static model
Consider the following model: Y*i= β 0 X t β 1e U t a) Using the stock adjustment model, estimate the short-run and long-run elasticities b) Comment on the following pr
2. You recommend spending $10,000 on equipment that will increase sales of your product by $1000 a year and reduce annual operating costs by $800. The equipment has 10-year lifetim
uses of time series
Define three methods than could be utilized to exercise quality control and describe the advantages and disadvantages of all. Methods comprise: • Self-checking: Rapid, ch
You are evaluating a project in the country of Expropriationstan. You estimate end-of-year cash flows as follows. Assume your discount rate for evaluating projects of this sort in
Task You work for a government of a European country that is considering making admission to museums of your country free to make them available to everybody. You have deci
QUESTION a) Explain with the use of appropriate techniques how can an increase in investment spills over to other sectors in the economy and what affects the final impact on ec
explain major decisions in successful implementation of sales promotion programs
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