In this article we will discuss about:- 1. Introduction to Keynesian Theory 2. Features of Keynesian Theory of Employment 3. Assumptions 4. Variables 5. Summary 6. Determination of Equilibrium Level 7. Theory of Income and Output 8. Keynesian Model 9. Policy Implications 10. Criticisms. Introduction to Keynesian Theory: Keynes was the first to develop a […]
Keynesian Theory of Employment: Introduction, Features, Summary and Criticisms
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Keynesianism versus Monetarism: How Changes in Money Supply Affect the Economic Activity
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Keynesians and monetarists disagree on almost all issues related to money and its role. Their extreme positions can be summed up like this- the Keynesians hold the view that ‘money does not matter’ as an effective means of demand management; the monetarists, on the contrary, maintain that ‘only money matters’ as an effective means of […]
Multiplier and Accelerator in Economics: Working, Equational Model and Limitations
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In this article we will discuss about Multiplier and Accelerator in Economics:- 1. Concept of Multiplier 2. Relation between MPC and Multiplier 3. Working 4. Reverse Working 5. Assumptions 6. Leakages 7. Criticisms 8. Importance 9. Principle of Acceleration 10. Equational Model 11. Working 12. Importance. Concept of Multiplier: The concept of multiplier is an […]