Keynes has greatly contributed in income and employment output in the economy in the following ways.
Where employment depends upon effective demand thus the output . Therefore output creates income and employment is created. In this case Keynes assume demand, output, income and employment as equal thus he consider employment as a function of income.
In this case increase in demand leads to increase in supply which results to increase of income thus high level of employment.
PETERMAN answered the question on May 30, 2019 at 14:51
- Discuss the free market economy and state the advantages and disadvantages of the economic system(Solved)
Discuss the free market economy and state the advantages and disadvantages of the economic system
Date posted: December 8, 2018. Answers (1)
- Discuss the traditional economy and state the advantages and disadvantages of the economic system(Solved)
Discuss the traditional economy and state the advantages and disadvantages of the economic system
Date posted: December 8, 2018. Answers (1)
- List the 4 main types of Economic systems(Solved)
List the 4 main types of Economic systems
Date posted: December 8, 2018. Answers (1)
- Name the functions of an Economic system(Solved)
Name the functions of an Economic system
Date posted: December 8, 2018. Answers (1)
- Explain the characteristics of Economic system(Solved)
Explain the characteristics of Economic system
Date posted: December 8, 2018. Answers (1)
- Name 5 characteristics of Economic system(Solved)
Name 5 characteristics of Economic system
Date posted: December 8, 2018. Answers (1)
- Define the term economic system(Solved)
Define the term economic system.
Date posted: December 8, 2018. Answers (1)
- Explain the two branches of Economics and give the difference between the two(Solved)
Explain the two branches of Economics and give the difference between the two
Date posted: December 8, 2018. Answers (1)
- Importance of studying Economics(Solved)
Importance of studying Economics
Date posted: December 8, 2018. Answers (1)
- Discuss the scope of Economics(Solved)
Discuss the scope of Economics
Date posted: December 8, 2018. Answers (1)
- Define the term economics(Solved)
Define the term economics.
Date posted: December 8, 2018. Answers (1)
- Conditions to consider in selecting a project
(Solved)
Conditions to consider in selecting a project
Date posted: November 24, 2018. Answers (1)
- What is the importance of the market planning?(Solved)
Importance of market planning
Date posted: November 18, 2018. Answers (1)
- Describe market planning process (Solved)
Describe market planning process
Date posted: November 18, 2018. Answers (1)
- Explain three functions of budgetary policies(Solved)
Explain three functions of budgetary policies.
Date posted: November 18, 2018. Answers (1)
- Discuss the various pricing strategies that can be used by stakeholders to promote domestic tourism(Solved)
Discuss the various pricing strategies that can be used by stakeholders to promote domestic tourism.
Date posted: November 16, 2018. Answers (1)
- If monopoly behaves competitively, how does equilibrium price and quantity change(Solved)
If monopoly behaves competitively, how does equilibrium price and quantity change
Date posted: November 15, 2018. Answers (1)
- The one-year interest rate is 6,5% p.a. and the six-month interest rate is 6% p.a. What is the forward six-month interest rate for the period...(Solved)
The one-year interest rate is 6,5% p.a. and the six-month interest rate is 6% p.a. What is the forward six-month interest rate for the period between six months and one year from now? Proof whether this forward interest rate can be taken to be the interest rate expected by money market participants?
Date posted: November 13, 2018. Answers (1)
- Why do central banks raise intrest rates?(Solved)
Why do central banks raise intrest rates?
Date posted: November 11, 2018. Answers (1)
- Explain why implementation of devolution and devolved Governance has failed has failed to address the issue of unemployment(Solved)
Explain why implementation of devolution and devolved Governance has failed has failed to address the issue of unemployment.
Date posted: November 10, 2018. Answers (1)