Question

From my understanding, the Neoclassical and Keynesian perspectives are just two different ways to look at macroeconomics. If this is true what is the purpose of using both of these? If I’m understanding this incorrectly could someone please clarify what these perspectives are supposed to be used for?

Answer 1

Ans:- Yes, the Noeclassical and Keynesian perspectives are two different way to look at macroeconomics.The Neoclassical economist's highlight say's law ,which says that supply generate its own demand .Equaly,the Kenesian economist give emphasis to Keyney's law ,which say demand generate its own supply.Kenesian economics says that inflation as a price that influence sometime be paid for lower unemployment.Neoclassical economics tend to view inflation as a cost that offers no offesetting gain in term of lower unemployment.