Question

$<marquee>Hello Freind$
what do mean by macroeconomics paradoxes

$<marquee>By vivan$

Answer 1

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Definition: Paradox in economics is the situation where the variables fail to follow the generally laid principles and assumptions of the theory and behave in an opposite fashion.

Description: Paradoxes are very common in economics. A few of them are Giffen's Paradox, Leontief's Paradox and Paradox of Thrift.

For example: The demand curve of any commodity is generally downward sloping, but Giffen's Paradox suggests that under certain situations Giffen goods have an upward sloping demand curve.



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