Introduction: The classical economist believed in the existence of full employment in the economy. To them full employment was a normal situation and any deviation from this regard as something abnormal. According to Pigou the
Introduction: The estimation of national income refers to the process of calculating the total economic output of a country over a specific period, usually a year. National income is a key indicator of a country’s
INTRODUCTION: The estimation of national income refers to the process of calculating the total economic output of a country over a specific period, usually a year. National income is a key indicator of a country’s
Meaning: Macro economics is that branch of economics which deals with the study of aggregate or average behavior of the entire economy. In it we study the collective functioning of the entire economy. It deals
Introduction: Features of macro economics is the important part of study of macro economics. Macroeconomics is a branch of economics that focuses on the study of the entire economy as a whole. It examines aggregate
Multiplier meaning: The multiplier refers to the effect of changes in investment outlays on aggregate income through induced consumption expenditure. Thus the multiplier express a relationship between an initial increment of investment and the resulting
Social Accounting Meaning: Social accounting meaning, is nothing but national income accounting or social and environmental accounting, that extends traditional financial accounting to include social and environmental factors. This broader concept provides a more broad
Keynes Theory of Employment: The Keynes Theory of Employment explains with the principle called an effective demand. J.M. Keynes, father of modern economics criticize the classical theory of employment given by classical economist. He gave
Macro Economics uses and limitations: Uses and Limitations: Before going to the uses we study first meaning. Macro Economics is the study of aggregates. Macro Economics derived from the Greek word MAKROS which means large.
