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File: 46 Sample Chapter
2 Classical Macroeconomics In this chapter we shall introduce the main elements of classical macroeconomics. In particular, we shall discuss the following aspects: Basic postulates of classical macroeconomics Classical quantity ...

icon picture PDF Filetype PDF | Posted on 02 Jan 2023 | 2 years ago

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...Classical macroeconomics in this chapter we shall introduce the main elements of particular discuss following aspects basic postulates quantity theory money saving and investment macroeconomic structure is built upon writings famous economists like adam smith david ricardo j b say t r malthus a c pigou irving fisher to mention greatest few their scattered when put together produce systematic coherent framework understand one needs bear mind assumptions that around conclusions these are broadly as under full employment classicals believed there will always be or near economy not only labour but also other major resources such land capital factors production case for instance they held view all normally find free enterprise capitalist with flexible market explained below however does mean temporary unemployment i e temporarily short period exist relatively longer what keynes later termed involuntary totally ruled out by may occur due maladjustment between demand supply frictions workers ...
								

							

						
	
												
				
					
					
					
			
					
				
				
		
	

	
		





	

	
				

						

						
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Posted on: 02 Jan 2023 | 2 years ago
										
										
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