O'Reilly logo

Managerial Economics by Vanita Agarwal

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Chapter 17

Classical Model of Income Determination

After studying this chapter, you should be able to understand:

  • With advent of Keynes’ book, The General Theory of Employment, Interest and Money, in the year 1936, began the Keynesian era.
  • It was followed by the development of the supply side economics.
  • Whether it is the individual, the consumer, the firm or the government, macroeconomics is important for all.
  • The variables in any economic model can be a stock or a flow.
  • A static relationship exists when all variables relate to the same time and a dynamic relationship exists when all the variables relate to different times.
  • A given set of relationships between the variables may lead to equilibrium or a disequilibrium solution.
  • Say’s law states ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required