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Difference between Classicists and Keynes on Aggregate Demand and Aggregate Supply

This article will help you to learn about the difference between the Classicists and Keynes on Aggregate Demand (AD) and Aggregate Supply (AS). Difference between Classicists and Keynes on Aggregate Demand and Aggregate Supply The classical economists believed in the operation of the Say's Law of Markets which states that supply creates its own demand. They also assumed sufficient wage-price [...]

By |2023-04-08T17:46:59+05:30January 13, 2017|Difference between|Comments Off on Difference between Classicists and Keynes on Aggregate Demand and Aggregate Supply

What is Aggregate Demand? | Employment | Economics

Get the answer of: What is Aggregate Demand? National output or GNP as also the general price level are deter­mined by the interplay of aggregate demand and aggregate supply. This means that the total production of a country is determined partly by aggregate demand and partly by aggregate supply. Aggregate demand refers to the quantity of goods and services that [...]

By |2017-01-13T05:55:19+05:30January 13, 2017|Aggregate Demand|Comments Off on What is Aggregate Demand? | Employment | Economics

What is Aggregate Supply (AS)? | Employment | Economics

Get the answer of: What is Aggregate Supply (AS)? Aggregate supply (AS) describes the behaviour and responsive­ness of all producers (business firms) to price changes. The two main forces lying behind AS are: (i) The level of potential output (which depends on the state of the economy, i.e., whether it is at full employment or having unemployed resources), and (ii) [...]

By |2017-01-13T05:55:19+05:30January 13, 2017|Aggregate Supply|Comments Off on What is Aggregate Supply (AS)? | Employment | Economics
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