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.
It is a concept in classical economics, that monetary forces could influence the general price level but had no effect on real activity
In contrast with Classical economics, Keynesian economics takes a broader view of the economy
economics
takes a broader view of the economy
this approch is also known as uttility approch or classical approch because it was very presented by the classical or orthodox economics
It is a concept in classical economics, that monetary forces could influence the general price level but had no effect on real activity
In contrast with Classical economics, Keynesian economics takes a broader view of the economy
economics
takes a broader view of the economy
takes a broader view of the economy
this approch is also known as uttility approch or classical approch because it was very presented by the classical or orthodox Economics
Keynesians say that government should interven in economic activities where as classical say not too
this approch is also known as uttility approch or classical approch because it was very presented by the classical or orthodox economics
the law of suply and demand
The principle of dichotomy states that every proposition can be either true or false, but not both. It is a fundamental concept in classical logic, where statements are categorized as either being true or false. This principle forms the basis for logical reasoning and analysis.
what is diff b/w the classical economist and keynes economist
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