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implications for the role of economic theorylike the schedule for the marginal efficiency of capital expectations about the future market rate of
nature of expectations in keynes theorythe above discussion on the nature of expectations in keynes theory may be summarised as follows1 in forming
demand qd100px supply mc1012qs assume first that this firm operates in a perfectly competitive market find the price and quanity in
the state of confidence in conventional judgementswhile individuals fall back on conventions to guide their behaviour in the face of uncertainty they
conventions as a basis for forming expectationssince there is little objective basis for probability distributions about future yields
non-existence of objective probability distributions let us see why expectations are volatile in nature according to keynes 1936 pp 149 our
keynes theory and expectationsexpectations played a major role in keynes theory of the determination of aggregate output and employment in market
rational expectations and economic theory much of undergraduate macroeconomic theory is discussed on the assumption that in the short run the
if the average variable cost curve is horizontal what is the shape of the short-run marginal cost curve what shape would the short-run average
a firm is currently operating where the mc of the last unit produced 84 and the mr of this unit 70 what would you advise this firm to do
if a monopolist makes economic profits new firms enter the market and compete with the monopolist in the long
what are the economic implications of income inequality how can economic theory be helpful to analyze the causes and impact of income inequality what
demonstrate mathematically that the equilibrium condition mrs pb pa is the equivalent of the utility-maximizing rule mu ap a
economic reforms and reduction of regional disparitiesanother important objective of development is to reduce regional disparities government
economic reforms and infrastructure growthinfrastructure data for the pre-reform period 1980-81 to 1990-91 is with1980-81 as base year and for
economic reforms and foreign investment inflowsa major objective of economic reforms was to increase foreign investment which helps to increase
performance of public sector enterprisesdata reveal that the performance of the much-maligned public enterprises has shown a distinct improvement
economic reforms and industrial growtheconomic reforms were mainly intended to remove obstacles so that investment in industry may be accelerated
increase in productivity and real wage earningslabour has been charged that whereas it presses for higher wages through trade unions it has failed
impact of economic reforms on labourit would be of interest to study the industrial relations scenario in the pre-reform and post-reform period
gdp growth employment and povertythe advocates of economic reforms point out that the reform process has the potential of accelerating economic
critique of economic reformsthe critique of economic reforms should consider the actual growth rate achieved its impact on employment and poverty
parameters for assessing economic reformslet it be clearly understood that liberalisation privatisation and globalisation are means with the help
advocacy of globalisationin support of the movement for globalisation the following arguments are put forthi globalisation promotes foreign direct