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Prospect theory can explain why
John Maynard Keynes
A British economist whose theories on the causes of prolonged unemployment and the role of government intervention in economies formed the basis of Keynesian economics.
Full Employment
A condition in the economy where all potential labor forces are utilized in the most economically effective manner.
Market Economy
An economic system where decisions regarding investment, production, and distribution are based on supply and demand, and prices of goods and services are determined in a free price system.
Aggregate Demand
The sum total of all economic needs for goods and services, appraised at a constant overall price level in a stated period.
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