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ECONOMICS-2015: Daily Answer Writing Challenge -20

ECONOMICS-2015: Daily Answer Writing Challenge – 20

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  1. Why is under-employment equilibrium possible in Keynesian economics, but not possible in Classical economics? Give reasons. (2012 – 20 marks)
  2. What do you mean by money multiplier? What are the factors that determine the value of the multiplier? (2012 – 20 marks)
  3. Why does the point of intersection of IS and LM carves coincide with two markets? (2012 – 20 marks)
  4. What are the fiscal and monetary implications of vertical IS and vertical LM curves? (2012 – 20 marks)