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Q:

According to John Maynard Keynes, employment depends upon

 

A) aggregate demand B) aggregate supply
C) effective demand D) rate of interest

Answer:   C) effective demand



Explanation:

J.M Keynes’ theory of employment is a demand-deficient theory. This means that Keynes visualised employment from the demand side of the model. His theory is a demand-oriented approach, as opposed to the classical supply side model.

According to him,the volume of employment in a country depends on the level of effective demand of people for goods and services. Thus, unemployment is attributed to the deficiency of effective demand.

 

Subject: Indian Economy
Exam Prep: Bank Exams
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