Get premium membership and access questions with answers, video lessons as well as revision papers.
1. Keynes over emphasized on full employment
2. Keynes theory of investment is said to be inadequate since it does not explain an overall efficiency to invest.
3. His ideas of liquidity and against speculators cannot be maintained today liquidity preference as a theory of interest is outdated.
4. He uses the concept of marginal propensity of capital in so many ways bringing out confusion.
6. Keynes ideas about state intervention are said to lead socialism.
5. He failed to refute J.B say’s law of “supply creates its own demand.”
7. He failed to overthrow the contention economics that the most frequent cause of unemployment is excess wage rates.
Dullayo answered the question on May 15, 2018 at 11:54
- Discuss the essential ideas of Marginalist school of thought(Solved)
Discuss the essential ideas of Marginalist school of thought.
Date posted: May 15, 2018. Answers (1)
- Define the term price discrimination as used in economics and give the necessary conditions which must be fulfilled for the implementation of price discrimination(Solved)
Define the term price discrimination as used in economics and give the necessary conditions which must be fulfilled for the implementation of price discrimination.
Date posted: May 15, 2018. Answers (1)
- Outline 2 reasons why consumers may decide to save rather than spend their income.(Solved)
Outline 2 reasons why consumers may decide to save rather than spend their income.
Date posted: May 14, 2018. Answers (1)
- Explain any one model for analyzing farmer's behaviour under uncertainty(Solved)
Explain any one model for analyzing farmer's behaviour under uncertainty.
Date posted: May 13, 2018. Answers (1)
- Discuss the typical farm management decisions a farm operator makes(Solved)
Discuss the typical farm management decisions a farm operator makes.
Date posted: May 13, 2018. Answers (1)
- “Commercial banks are not only dealers of money but manufacturers of money and credit also.” Explain the statement.(Solved)
“Commercial banks are not only dealers of money but manufacturers of money and credit also.” Explain the statement.
Date posted: May 12, 2018. Answers (1)
- Distinguish between revenue expenditure and capital expenditure of a government budget.
Give two examples of each.(Solved)
Distinguish between revenue expenditure and capital expenditure of a government budget.
Give two examples of each.
Date posted: May 12, 2018. Answers (1)
- Explain the concept of deflationary gap. Also explain the role of “margin requirements” in reducing it(Solved)
Explain the concept of deflationary gap. Also explain the role of “margin requirements” in reducing it
Date posted: May 12, 2018. Answers (1)
- Explain the concept of inflationary gap. Also explain the role of “legal reserves” in reducing Inflationary gap. (Solved)
Explain the concept of inflationary gap. Also explain the role of “legal reserves” in reducing Inflationary gap.
Date posted: May 12, 2018. Answers (1)
- Which transactions determine the ‘balance of trade’? When is balance of trade in surplus?(Solved)
Which transactions determine the ‘balance of trade’? When is balance of trade in surplus?
Date posted: May 12, 2018. Answers (1)
- Define foreign exchange rate. How is it determined under flexible exchange rate system? (Solved)
Define foreign exchange rate. How is it determined under flexible exchange rate system?
Date posted: May 12, 2018. Answers (1)
- Write any three precautions to be taken while estimating national income by expenditure Method.(Solved)
Write any three precautions to be taken while estimating national income by expenditure Method.
Date posted: May 12, 2018. Answers (1)
- Giving reasons, explain the treatment assigned to the following while estimating national Income: (i) Social security contributions by employees.(ii)Pension paid after retirement.(Solved)
Giving reasons, explain the treatment assigned to the following while estimating national Income:
(i) Social security contributions by employees.
(ii)Pension paid after retirement.
Date posted: May 12, 2018. Answers (1)
- Explain how ‘non-monetary exchanges’ are a limitation in taking GDP as an index of welfare.(Solved)
Explain how ‘non-monetary exchanges’ are a limitation in taking GDP as an index of welfare.
Date posted: May 12, 2018. Answers (1)
- State the Say’s Law of markets.(Solved)
State the Say’s Law of markets.
Date posted: May 12, 2018. Answers (1)
- State the two components of money supply(Solved)
State the two components of money supply
Date posted: May 12, 2018. Answers (1)
- Define ‘Statutory Liquidity Ratio’.(Solved)
Define ‘Statutory Liquidity Ratio’.
Date posted: May 12, 2018. Answers (1)
- Market for a good is in equilibrium. There is “increase” in supply of the good. Explain the chain of effects of this change(Solved)
Market for a good is in equilibrium. There is “increase” in supply of the good. Explain the chain of effects of this change
Date posted: May 12, 2018. Answers (1)
- Explain the distinction between ‘’change in quantity supplied” and “change in supply”(Solved)
Explain the distinction between ‘’change in quantity supplied” and “change in supply”
Date posted: May 12, 2018. Answers (1)
- Define marginal cost. Explain its relation with average cost(Solved)
Define marginal cost. Explain its relation with average cost
Date posted: May 12, 2018. Answers (1)