Monthly Archives: March 2014
Keynes, New Keynesians, and the Keynesian Cross
Simplify massively. Ignore investment, government spending and taxes, and exports and imports. All output is consumed. Assume a Keynesian consumption function: Cd = a + bY. Draw Samuelson's "Keynesian Cross" diagram. Real consumption demand Cd on the vertical axis, and real output (real income) Y on the horizontal axis. Demand for consumption this current period […]
Worthwhile Canadian Initiative 
Recent Comments