Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter24: The Aggregate Demand/aggregate Supply Model
Section: Chapter Questions
Problem 41CTQ: Why would an economist choose either the neoclassical perspective or the Keynesian perspective, but...
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Why is economics so useful for, or amenable to, policymaking?
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Policy making refers to the plans of the government according to the vision and current situation for the economy. Economics is useful for policy-making as it act as it helps policy makers to make precise decisions, guiding through all the principles of economics. From the basic micro level concepts to the aggregate units, international relations, economists formulate policies by studying the variables & help make accurate decisions/policies.
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