Cyclical unemployment which occurs during recessions and depressions due to lack of effective demand
Short period analysis that is Keynes assumes that skills, quantity of labor, competition, taste and preferences are fixed. That is only possible in the short run as variables will change in the long run
Theory assumes a closed economy with no foreign trade
Theory assumes there is excess supply of labor as well as complimentary factors
Theory assumes there is simultaneous unemployment of labor and excess capacity of capital
Dana05 answered the question on July 3, 2019 at 11:35
- Discuss the Keynesian theory of economic growth (Solved)
Discuss the Keynesian theory of economic growth
Date posted: July 3, 2019. Answers (1)
- Discuss Sen’s capability welfare theory of economic development (Solved)
Discuss Sen’s capability welfare theory of economic development
Date posted: July 3, 2019. Answers (1)
- State and discuss the limitations of Rostow’s five stages of economic development (Solved)
State and discuss the limitations of Rostow’s five stages of economic development
Date posted: July 3, 2019. Answers (1)
- Discuss the characteristics of the fifth stage of development according to Rostow’s five stages of economic development (Solved)
Discuss the characteristics of the fifth stage of development according to Rostow’s five stages of economic development
Date posted: July 3, 2019. Answers (1)
- Discuss the characteristics of the fourth stage of development according to Rostow’s five stages of economic development (Solved)
Discuss the characteristics of the fourth stage of development according to Rostow’s five stages of economic development
Date posted: July 3, 2019. Answers (1)
- Discuss the characteristics of the third stage of development according to Rostow’s five stages of economic development (Solved)
Discuss the characteristics of the third stage of development according to Rostow’s five stages of economic development
Date posted: July 3, 2019. Answers (1)
- Discuss the characteristics of the second stage of development according to Rostow’s five stages of economic development (Solved)
Discuss the characteristics of the second stage of development according to Rostow’s five stages of economic development
Date posted: July 3, 2019. Answers (1)
- Discuss the characteristics of the first stage of development according to Rostow’s five stages of economic development (Solved)
Discuss the characteristics of the first stage of development according to Rostow’s five stages of economic development
Date posted: July 3, 2019. Answers (1)
- What are the promises of a socialist?(Solved)
What are the promises of a socialist?
Date posted: July 3, 2019. Answers (1)
- Describe socialism as a theory of economic growth (Solved)
Describe socialism as a theory of economic growth
Date posted: July 3, 2019. Answers (1)
- Describe capitalism as a theory of economic growth (Solved)
Describe capitalism as a theory of economic growth
Date posted: July 3, 2019. Answers (1)
- Highlight the Marxists criticisms of capitalism (Solved)
Highlight the Marxists criticisms of capitalism
Date posted: July 3, 2019. Answers (1)
- Discuss the Marxism theory of economic development (Solved)
Discuss the Marxism theory of economic development
Date posted: July 3, 2019. Answers (1)
- Discuss the contribution of John Stuart Mill to the classical theory of economic growth (Solved)
Discuss the contribution of John Stuart Mill to the classical theory of economic growth
Date posted: July 3, 2019. Answers (1)
- Discuss the contribution of Thomas Robert Matthews to the classical theory of economic growth (Solved)
Discuss the contribution of Thomas Robert Matthews to the classical theory of economic growth
Date posted: July 3, 2019. Answers (1)
- Discuss the contribution of Jean Baptiste Say to the classical theory of economic growth (Solved)
Discuss the contribution of Jean Baptiste Say to the classical theory of economic growth
Date posted: July 3, 2019. Answers (1)
- Discuss the contribution of David Ricardo to the classical theory of economic growth (Solved)
Discuss the contribution of David Ricardo to the classical theory of economic growth
Date posted: July 3, 2019. Answers (1)
- Discuss the contribution of Adam smith to the classical theory of economic growth (Solved)
Discuss the contribution of Adam smith to the classical theory of economic growth
Date posted: July 3, 2019. Answers (1)
- What is a theory?(Solved)
What is a theory?
Date posted: July 3, 2019. Answers (1)
- Give any seven characteristics of less developed countries (Solved)
Give any seven characteristics of less developed countries
Date posted: July 3, 2019. Answers (1)