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4 November, 03:29

In the basic keynesian model, a decline in autonomous spending:

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  1. 4 November, 05:42
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    In the basic keynesian model, a decline in autonomous spending reduces short-run equilibrium output. The increase in national income is equal to the primary investment (autonomous) plus a chain of secondary consumption spending. According to Keynes, the root cause of unemployment and depression is inadequate investment, and a consequent low level of aggregate demand.
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