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Classical Theory of Price Level | Macroeconomics

In fact, there was no separate discipline known as macroeconomics before the publication of Keynes' revolutionary title- The General Theory of Employment, Interest and Money in 1936. Although it was the first title on macroeconomics, the term macroeconomics was coined by the first Nobel Laureate economist Ragnar Frisch in 1933. Moreover, there is no such thing as the classical model [...]

By |2017-03-04T14:07:45+05:30March 4, 2017|Price Level|Comments Off on Classical Theory of Price Level | Macroeconomics

Inflation in Price Level: Meaning, Types and Causes

Meaning of Inflation: One primary macroeconomic concern in market economies is the maintenance of stable prices, or the control of inflation. Inflation is a situation where prices are persistently rising, thereby reducing the value of money. It refers to a situation of constantly rising prices of commodities and factors of production. The opposite situation is known as deflation—a situation of [...]

By |2015-10-26T12:47:11+05:30October 17, 2015|Price Level|Comments Off on Inflation in Price Level: Meaning, Types and Causes
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