Explain using a graph how in the Keynesian model, keeping the price level fixed, an increase in

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Explain using a graph how in the Keynesian model, keeping the price level fixed, an increase in private consumption influences aggregate expenditure and aggregate demand.

Japan’s economy has witnessed an encouraging growth in GDP in the first quarter. This growth was driven by private consumption, which had long remained an obstacle in the country’s economic recovery whereas capital expenditure rose for the first time in four quarters.

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Economics

ISBN: 9781292433639

14th Global Edition

Authors: Michael Parkin

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