Keynesian Lras

Keynesian view at low rno, as is completely elastic, meaning there is spare capacity in the economy, therefore suggesting that output can increase without raising the price level if unemployment is high, firms can employ more workers, without offering higher wages, in order to increase outputhe curve slopes upwards as the economy experiences supply bottlenecks which cause cost rises.

Copyright © 2019.Henan Mining Machinery Co., ltd. All rights reserved.Sitemap.xml