Asked by
Shawneesuree Laiwa-McKay
on Oct 13, 2024
Verified
For Keynes,the most important determinant of employment and output is/are
A) interest rates.
B) aggregate supply.
C) aggregate demand.
D) the level of inventories.
Keynes
Refers to John Maynard Keynes, a British economist whose theories on government economic intervention to mitigate the adverse effects of recessions and depressions significantly influenced modern macroeconomics.
Aggregate Demand
The entire market demand for goods and services in an economic setting, priced collectively at a given level during a specified period.
Aggregate Supply
The aggregate amount of commodities and services scheduled for sale by businesses within a national economic framework during a designated timeframe.
- Perceive the dynamics between overall market demand, supply, and their consequences on employment rates and output levels.
- Familiarize oneself with the conditions necessary for maintaining macroeconomic equilibrium and the impact of governmental measures from a Keynesian perspective.
Verified Answer
ZK
Learning Objectives
- Perceive the dynamics between overall market demand, supply, and their consequences on employment rates and output levels.
- Familiarize oneself with the conditions necessary for maintaining macroeconomic equilibrium and the impact of governmental measures from a Keynesian perspective.