Question
Consider the twin economic problems of high price inflation and high unemployment. Explain how Keynes' ideas on aggregate demand differ from those of classical economists.
Consider the twin economic problems of high price inflation and high unemployment. Explain how Keynes' ideas on aggregate demand differ from those of classical economists. How do these two different types of theories explain high inflation and high unemployment, and what do they propose as the solutions to these?
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Macroeconomics Principles Applications And Tools
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez
7th Edition
978-0134089034, 9780134062754, 134089030, 134062752, 978-0132555234
