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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What is Keynes; law?

To determine

Keynes Law is to be defined.

Explanation

The principle of effective demand is basic to Keynes analysis of income, output and employment. Effective demand represents the money value actually spent by people on the products of industry.

He believed that demand affects supply...

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