In this article we will discuss about:- 1. Propositions of Classical Theory of Employment 2. Assumptions of the Theory 3. Assumptions of Full Employment 4. Explanation of Classical Theory of Employment 5. Classical Model of Employment 6. Criticisms. The classical economists took full employment for granted, believed in the automatic adjustment of the economy, and, […]
Classical Theory of Employment: Assumptions, Equation Model and Criticisms
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