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Q. Describe the Theory of effective demand ?

Effective Demand:Theory of effective demand was developed separately in the 1930s by Michal Kalecki andJohn Maynard Keynes. It elucidates why capitalist economy is generally limited by the total amount of spending (which is, the economy is demand-constrained) and hence why unemployment almost always exists.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9579305

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