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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Top 3 Theories of Rate of Exchange: With Criticisms | Foreign Exchange | Economics
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Different theories have been developed to explain the determination of rate of exchange. They are: 1. Mint Parity theory 2. Purchasing power parity theory 3. Balance of payments theory 1. Mint Parity Theory: Mint parity theory explains the determination of exchange rate between the two gold standard countries. In a country on gold standard, the […]
Modern Theory of International Trade: Features, Assumptions & Criticisms
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In this article we will discuss about:- 1. General Features of Modern Theory 2. Assumptions of the Theory 3. Explanation 4. Factor-Price Equalisation Theorem 5. Criticisms 6. Empirical Evidence. General Features of Modern Theory: Heckscher-Ohlin theory is known as modern theory of international trade. It was first formulated by Swedish economist Heckscher in 1919 and […]