Classical Remedies for Unemployment
Or how to make the problem worse!
Keynes rejected the classical remedies for unemployment. According to Keynes, they were
more than just useless: they actually made the problem worse. So what were the classica
Thomas Malthus, David Ricardo and
How gloomy was classical economics?
Thomas Robert Malthus (17661834) and David Ricardo (17721823) were probably the
two most famous economists of the early nineteenth century. They were in
Aggregate Output and Income
Real Gross Domestic Product (GDP): Defining GDP
is the market value of all final
goods and services produced within a5
in a given period of time.
Real Gross Domestic Product (GDP): Defining G
CONCEPTS AND PROBLEMS
Inflation and Deflation
The Components of the Macroeconomy
The Circular Flow Diagram
The Three Market Arenas
1. A retirement home at Deer Trail Estates now costs $185,000. Inflation is
expected to cause this price to increase at 6% per year over the 20 years
before C.L. Donovan retires. How large an equal, annual, end-of-year deposit
must be made
Current Environment f international business focused on international
communication & negotiation!
Communication is an element of the culture!
Intercultural business communication> Within/between business involving
people from different cultures!