Is a True Or False . Give the Reasons According to Keynesian theory of employment, the state of full employment is obtained only when the economy is in equilibrium.
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Answer:
it's false
Explanation:
because equilibrium also obtained in the situation of under- employment and over- employment
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The given statement about the Keynesian theory is False.
- Keynesian theory is concerned with employment and the state of the economy.
- According to him, full employment entails both those who voluntarily work and those who voluntarily do not.
- It is classified as underemployment and over-employment in this state.
- Demand and supply balance is also a crucial concept in economic equilibrium.
- As a result, for those who are working, the economy is still deemed to be in balance.
- As a result, economic equilibrium is achieved at all levels of employment, according to this theory.
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