Question

1). Compare and contrast the Classical and Keynesian Theory of income, output and employment. (should be 20 marks)​

Answer 1

Answer:

This is the basic difference between Classical Theory and Keynesian Theory. (ii) "Demand creates its own supply" Unlike Classicals; Keynes believed that it is the demand that creates supply and not that supply creates demand. ... Thus increase in demand has led to increase in output, employment and income

please mark me as brainlist

Answer 2

Answer:

Answer

Correct option is

A

Macroeconomics

Macro economics deals with the study of economics as a whole and the study of collective or aggregate variables like national income and how they influence the whole economy. Theory of income and employment explains how aggregate demand and supply decide the level of income and employment in an economy as a whole. Thus, it is a part of macro economics

Explanation:

mark me as brainlist