What are the differences between the is-lm model and the, Ask an Expert

Economics

What are the differences between the IS-LM model and the Keynesian model?

The 'simple' Keynesian model is a simplified model to exemplify Keynes's idea about the equilibrium income.

On the other hand, the IS-LM model is a more general model (involving more variables, e.g., P and r) to demonstrate Keynes's idea about the equilibrium income.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9574895

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