Examlex
Suppose you are asked by the local hospital to donate one of your kidneys to save the life of a stranger.Are you obligated to give away your kidney for a good cause? John Arthur says NO because:
Aggregate Saving
The total amount of saving in the economy, consisting of both private savings by individuals and public savings by the government.
Keynesian Macroeconomic Theory
An economic theory stating that government intervention through fiscal and monetary policy can manage economic fluctuations.
Long-Run Equilibrium
A state in which all factors of production and market forces are fully adjusted, leading to a consistent and stable economic situation.
Short-Run Equilibrium
The state in economics where demand equals supply in the short term, and all prices are in balance.
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