Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Imagine a classical economist (such as David Ricardo) making the following statement: Says Law suggests that supply creates its own demand. Therefore general gluts are

Imagine a classical economist (such as David Ricardo) making the following statement: "Says Law suggests that supply creates its own demand. Therefore general gluts are impossible." Given the severity of the Great Depression, describe John Maynard Keynes' response to this statement.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Marketing And Export Management

Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr

8th Edition

1292016922, 978-1292016924

Students also viewed these Economics questions