Circular Flow of Income and Expenditure in the 3 sector Economy
CIRCULAR FLOW OF INCOME AND EXPENDITURE 2. iN THE THREE SECTOR ECONOMY Three sector economy consist of household, business, and …
Courses-of-Economics
Introduction of National Income | Circular Flow of Income and Expenditure in the 2 Sector Economy
INTRODUCTION OF NATIONAL INCOME National income is the single most important macroeconomic variable that represents the economy as a whole. …
Keynesian Theory of Employment | Gyankovandar
Keynesian theory of employment J.M. Keynes was the first to develop a systematic theory of employment in his book “The …
New Classicial School, New Keynesianism and Macroeconomic concepts
Concept of new classical school and new Keynesian To understand the concept of new classical school and Keynesianism, we need …
Interdependence of microeconomics and macroeconomics
The interdependence of microeconomics and macroeconomics Microeconomics is the study of individual parts of the economy whereas macroeconomics is …
Distinction between microeconomics and macroeconomics
The distinction between microeconomics and macroeconomics Modern economic theory is broadly sub-divided into microeconomics and macroeconomics. This is because …
Limitations of macroeconomics
Limitations of macroeconomics In spite of the growing popularity of macroeconomics, it is not free from limitations. The limitations of …
Macroeconomics: Features, Scope, and Importance
Macroeconomics: Features, Scope, and Importance Features of Macroeconomics The following are the main features of macroeconomics: It is aggregative economics. …
what is Nominal GDP and Real GDP ?
Nominal GDP and Real GDP Nominal GDP is defined as the GDP evaluated at current market prices. therefore, the …
Introduction and Meaning of Macroeconomics
Introduction Economics is the study of how individuals and societies choose to utilize scarce resources to satisfy unlimited human …
