Describe Briefly What Are the Major Differences Between the Classical

question 36

Essay

Describe briefly what are the major differences between the classical economists and the Keynesian economists with regard to causes of business cycles,long-run adjustments to shock,and the government policies in restoring the full employment.

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Definitions:

Shared Community

A group of individuals with common interests, values, or goals who collaborate and support each other.

Organizational Ethics

The principles and standards that guide behavior within the context of a business or organization.

Value-Based Management

A management approach that ensures corporations are run consistently on values that maximize the value for shareholders.

Normative Guidance

Principles or recommendations based on norms or standards intended to direct or influence behavior and decision-making.