Question: What is Says law? How does it relate to the view held by classical economists that the economy generally will operate at a position on

What is Say’s law? How does it relate to the view held by classical economists that the economy generally will operate at a position on its production possibilities curve (Chapter)? Use production possibilities analysis to demonstrate Keynes’ view on this matter.

Step by Step Solution

★★★★★

3.25 Rating (166 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Says law states supply creates its own demand People work in order to earn income to and plan to spe... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

252-B-E-M-E (2101).docx

120 KBs Word File

Students Have Also Explored These Related Economics Questions!

What is duress? How does it relate to the idea of consent?

What is conditionality, and how does it relate to the balance of payments constraint?

What is allocative efficiency and how does it relate to the production possibilities frontier?

LAST WORD What is Says law? How does it relate to the view held by classical economists that the economy generally will operate at a position on its production possibilities curve (Chapter 1)? Use...

Question 1- LAST WORD:What is Say's Law? How does it relate to the view held by classical economists that the economy generally will operate at a position on its production possibilities curve? Use...

8. last word What is Says law? How does it relate to the view held by classical economists that the economy generally will operate at a position on its production possibilities curve (Chapter 1)? Use...

what is Says law ?how does it relate to the view held by classical economist that the economy generally will operate at a position on its production possibilities curve ?use production possibilities...

Please read the text pages from 15-28 pasted below and answer the following questions Define: 1) expansionary fiscal policy 2) automatic stabilizers 3) progressive tax 4) contractionary fiscal policy...

The following is the ANOVA summary table for a multiple regression model with two independent variables: If and SSR (X1) = 45 and SSR(X2) = 25, a. Determine whether there is a significant...

Snellville Company reports the following data: Sales $413,700 Variable costs 273,000 Fixed costs 112,600 Determine Snellville Company's operating leverage. Round your answer to one decimal place.

Consider the function f ( x ) = 9 x - 6 for x > 6 A

On January 2, 2008, P Company, a U.S.-based company, acquired for 2,000,000 francs an 80% interest in SFr Company, a Swiss company. On January 2, 2008, SFr Company reported a retained earnings...

True or false? Explain or qualify as necessary. a. The expected rate of return on an investment with a beta of 2.0 is twice as high as the expected rate of return of the market portfolio. b. The...

Haaki Shop, Inc., is a large retailer of water sports equipment. An income statement for the companys surfboard department for a recent quarter is presented below: The surfboards sell, on the...

Cairns owns 75 percent of the voting stock of Hamilton, Inc. The parents interest was acquired several years ago on the date that the subsidiary was formed. Consequently, no goodwill or other...

Jeff McMillan owns a small neighborhood shopping mall. Of the 10 store spaces in the building, seven are rented by boutique owners and three are vacant. Jeff has decided that offering more services...

Can you think an example where the ecological fallacy might benefit an individual? (Hint: lets imagine you are only eligible for a scholarship if you live in a poor area.)

The bank reconciliation shows the following adjustments. Deposits in transit: $1,698 Notes receivable collected by bank: $2,500; interest: $145 Outstanding checks: $987 Error by bank: $436 Bank...

The bank reconciliation shows the following adjustments. Deposits in transit: $526 Outstanding checks: $328 Bank charges: $55 NSF checks: $69 Prepare the correcting journal entry.

The bank reconciliation shows the following adjustments: Deposits in transit: $1,234 Outstanding checks: $558 Bank service charges: $50 NSF checks: $250 Prepare the correcting journal entry.

Shert. Problems (questions, 5 points each) YOU MUST SHOW YOUR WORK. A bunk offers a loan that will requires you to pay 6% interest compounded monthly. What is the EAR charged by the bank? 2) Your...

Here are data on two companies. The T-bill rate is 5.2% and the market risk premium is 6.5%. Company $1 Discount Store Everything $5 Forecast return 13% 12% Standard deviation of returns 14% 16% Beta...

Download: x | x | s x ? Calculate the annual inflation rate from December 2 0 2 2 to December 2 0 2 3 .