Keynesian unemployment, Managerial Economics

Keynesian unemployment

According to Keynesian theory of income and employment, unemployment occurs due to lack of effective demand. If effective demand is less, production of goods and services will fall which will further result in the unemployment of labour. Another feature of Keynesian unemployment is that unemployment of labour is associated with unemployed capital such as plant and machinery which tend to be idle during depression.

Posted Date: 11/30/2012 2:39:42 AM | Location : United States

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