The principal objectives of Monetary Policy are: (a) Safeguarding of the country’s…
One way to get around the problems of fiscal policy inflexibility and long lags that…
The alternate theory of public debt which was presented by Professor Ricardo is know…
The relative income hypothesis was first introduced by Dorothy Brady and Rose Friedm…
John Robinson was perhaps the first, economist who used term ‘disguised unemployment…
The issue of neutrality or non-neutrality of money has an important bearing on the q…
When price fall as a result of a cut in money wages, the purchasing power of money w…
In the dynamic change, which give rise to profits according to the dynamic theory of…
The saving function shows the relationship between the level of saving and income. H…
Production function may be defined as the functional relationship between physical i…
Investment which varies with the changes in national income is called induced invest…
Following are the chief or dynamic functions that money has to perform. i. …
The IS-LM model was developed in 1937 by Nobel laureate Sir John Hicks who intended …
Keynes produced a Law based on the analysis of consumption function. This Law is cal…
Professor Phillips, formerly of London School of Economists, urged that there was a …
The situation where higher level of unemployment is attached with higher level of in…
(i) Inflationary Gap: Inflationary gap arises when consumption and investment spendi…
One of the functions of money is that it serves as a liquid asset. Since money is ge…
Keynes measured employment in terms of national output or income. According to him g…
The classical theory of employment assumes that there is always full employment of l…
The phases of the business cycle are discussed as under: 1. Depression …
Monetary policy embraces banking and credit policy relating to loans and interest ra…
As we know that the accelerator is the numerical value of relation between an increa…
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