In this book, the author states that the level of output in an economy is determined by three factors—a person's marginal propensity to consume, the marginal efficiency of capital, and the interest rate.
In this book, the author states that the level of output in an economy is determined by three factors—a person's marginal propensity to consume, the marginal efficiency of capital, and the interest rate. It argued that an increase in government expenditures could stimulate an economy caught in a long-term recession, and it ushered in a revolution in macroeconomic thought. For ten points, name this masterwork of British economist John Maynard Keynes.
In this book, the author states that the level of output in an economy is determined by three factors—a person's marginal propensity to consume, the marginal efficiency of capital, and the interest rate.
The {General Theory of Employment, Interest, and Money}