Explain the shift this article represents with its focus on government expenditures and the notion that there is an optimal level of government expenditure.
This article reflects a clear change in thinking about the government’s role in the economy. Economics Problem Set 1.) What was Fisher’s Quantity Theory of Money Equation? Identify and explain each variable. Explain the relationship Fischer said existed between inflation and interest rates. 2.) Keynes’ theory was not a radical break from Classical Economics like … Read more