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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.
suppose that you have 150 observations on production and investment and you have estimated the following ADL(3,2)model;
QUESTION Write short notes on any three (3) of the following: (a) National income and the standard of living. (b) Globalization and its implications for developing countr
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What is the Washington Consensus? The Washington Consensus is a set of polices arguments advocated through free market economists to motivate growth and it is at the heart of
(a) Describe and discuss the Structure Conduct Performance framework (b) The hypotheses of interest in the Structure Conduct Performance framework are as follows: Hypothesi
Define the macroeconomic stability in market for promoting development. Macroeconomic stability implies that: • Tight fiscal policy that is balanced government budgets and d
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Calculate the market value of your corporation at the end of the sample period. Multiply the last price in the sample times the number of shares outstanding at that time. You can
why does the quantity of salt demanded tend to be unresponsive to changes in its price?
An agent has a utility function over goods 1 and 2 of the form U = x c 1 x d 2 where c is your 1- digit number and d is your minimum number. The agent's income is equal to you
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