Explain pre-keynesian approaches to the meaning of national income.
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Keynesian economics is a theory that says the government should increase demand to boost growth. Keynesians believe consumer demand is the primary driving force in an economy. As a result, the theory supports expansionary fiscal policy. ... A drawback is that overdoing Keynesian policies increases inflation.
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Keynesian economics is a theory that says the government should increase demand to boost growth. Keynesians believe consumer demand is the primary driving force in an economy. As a result, the theory supports expansionary fiscal policy. ... A drawback is that overdoing Keynesian policies increases inflation.
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