Here are Economics Terms beginning with K
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Please note these economics dictionary definitions are all copyright of BusinessEconomics.com and no one is allowed to use them without express written confirmation from BusinessEconomics.com.
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Keynesian economics is a branch of macroeconomics based upon the ideas and work of John Maynard Keynes. Keynesian economists believe the economy can settle in an "unemplyment equilibrium" in that the aggregate demand for outpiut is equal to aggeraget supply at less than the full employment level of output. Keynesian prose that full employment can be achieved by increasing giovernment expenditure which via the multiplier effectr will raise aggregate demand. Kinked demand theory the idea that the demand curve facing an oligopoly firm has a kink at the current price. Above the current price the demand curve is perceived as elastic as rival firms will not follow the price rise leading to a large loss of sales. conversely, if the oligopoly cuts its price then other firms will follow so that there is only a small increase in sales meaning that the demand curve is perceived as being price inelastic below the current price. |
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