In a closed a economy - how can goods market equilibrium exist whilst there is high unemployment?
Using the Keynesian argument
Answer:
Grouping diverse groups into something we call a closed economy means that there is a negligible number of economic transactions between those inside and those outside the economy. It says nothing about the existence or lack of sub-groups that are also closed.
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Grouping diverse groups into something we call a closed economy means that there is a negligible number of economic transactions between those inside and those outside the economy. It says nothing about the existence or lack of sub-groups that are also closed.
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