0
It is a concept in classical economics, that monetary forces could influence the general price level but had no effect on real activity
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
What does the classical dichotomy in economics state?
In macroeconomics, the classical dichotomy refers to an idea attributed to classical and pre-Keynesian economics that real and nominal variables can be analyzed separately. To be precise, an economy exhibits the classical dichotomy if real variables such as output and real interest rates can be completely analyzed without considering what is happening to their nominal counterparts, the money value of output and the interest rate.
In contrast with classical economics keynesian economics does what?
In contrast with Classical economics, Keynesian economics takes a broader view of the economy
What is the adjustment process in classical economics?
economics
In contrast with classical economics, Keynesian economics _____.?
takes a broader view of the economy
Definition of cardinal approach theory in economics?
this approch is also known as uttility approch or classical approch because it was very presented by the classical or orthodox economics
What does the classical dichotomy in economics state?
In macroeconomics, the classical dichotomy refers to an idea attributed to classical and pre-Keynesian economics that real and nominal variables can be analyzed separately. To be precise, an economy exhibits the classical dichotomy if real variables such as output and real interest rates can be completely analyzed without considering what is happening to their nominal counterparts, the money value of output and the interest rate.
In contrast with classical economics keynesian economics does what?
In contrast with Classical economics, Keynesian economics takes a broader view of the economy
What is the adjustment process in classical economics?
economics
In contrast with classical economics Keynesian economics .?
takes a broader view of the economy
In contrast with classical economics, Keynesian economics _____.?
takes a broader view of the economy
Definition of cardinal approach in economics?
this approch is also known as uttility approch or classical approch because it was very presented by the classical or orthodox Economics
What is the similarities between classical and Keynesian school of thoughts in economics?
Keynesians say that government should interven in economic activities where as classical say not too
Definition of cardinal approach theory in economics?
this approch is also known as uttility approch or classical approch because it was very presented by the classical or orthodox economics
What are the characteristics of classical economics?
the law of suply and demand
Main difference between classical macro-economics and neo-classical thoughts?
what is diff b/w the classical economist and keynes economist
What has the author Gilles Campagnolo written?
Gilles Campagnolo has written: 'Criticisms of classical political economy' -- subject(s): Classical school of economics 'Existe-t-il une doctrine Menger?' -- subject(s): Economics, Austrian school of economics
Who was the author of the classical theory?
The classical theory in economics was developed by Adam Smith, often considered the "Father of Economics," in his seminal work "The Wealth of Nations" published in 1776. Smith's ideas form the foundation of classical economics and focused on the concepts of free markets, self-interest, and the invisible hand guiding market outcomes.
