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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

According to the theory of patterns of specialization and sustainable trade (PSST), economic activity can decline in the face of unchanged aggregate demand. How so?

To determine

The role of unchanged aggregate demand in the declining economic activity according to the PSST theory.

Explanation

Arnold kling uses his theory of Pattern of specialization sustainable trade to explain the fluctuation in the employment with the help of Keynesian paradigm. The trades are determined by the preference in buying. Suppose the buyer wants to purchase large amount of good X and Y, the firm wants to specialize on that good more...

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