Pedro is a Keynesian economist and argues that in a downturn, state intervention is the key for economic recovery.
Keynesians believe that GDP (Gross Domestic Product) is positively influenced by aggregate demand. Hence, in order to boost GDP growth after a downturn, the state should step in the economy by increasing public expenditure. This will help to create job positions, increase the disposable income of households and therefore increase overall demand for goods and services.
If more goods and services are demanded, the same cycle restarts as firms would hire more staff in order to increase production to a greater extent to meet the new necesities. The more people who is employed, the more income avilable to continue increasing private expenditure and investments, which in turn GDP and bring economic growth.
<em><u>To make it clearer, the following is the GDP formula for a certain time period</u></em>
<em>GDP = Private Consumption + Private investment + Public expenditure + Exports - Imports </em>
The correct answer is<span> responsibility.</span>
<span>He believed that the people of the US are responsible for protecting everyone. Nuclear dominance, antagonism, and physical beauty are definitely not a core value of the US.</span>
Answer:
Product.
Explanation:
As the exercise defines, a product is the specific combination of goods, services, or ideas that a firm offers to its target market to enrich the lives of consumers by providing designs, features, and functions that people need and want. For example, if one goes to Apple, the product that they offer is not only a phone, but the service of repair if something happens to it. Both of this things (the phone itself and the service of repair) are products that Apple sells. And, as it's already mentioned, a product has to be somehow productive or helpful for the consumer to buy it.
Answer:
Smith rejects government interference in market activities, and instead states governments should serve just 3 functions: protect national borders; enforce civil law; and engage in public works.
Explanation:
I got it right, have a good day everyone
