9 Nov 2021
Problem 58
Page 601
Section: CRITICAL THINKING QUESTIONS
Chapter 24: The Aggregate Demand/Aggregate Supply Model
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9 Nov 2021
Introduction
We can't relate Say's law and Keyne's law mutually exclusive to each other as Say's law runs shortly and Keyne's law reflects itself in longer. According to Keyne's law, their all perspectives lie on demand which develops its own supply. Demand causes changes in GDP and further employment.
Whereas Say's law concludes the concept of supply to create its demand. Any changes can't affect the production, employment but in the price level.
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