Keynes argued that the private sector was unable to keep the economy at full employment. as a result, the government should take an active role in managing the economy.
<h3>What is a
Keynesian economic theory?</h3>
According to Keynesian economics, the government should raise demand to spur economic growth. Consumer demand, according to Keynesians, is the main engine of an economy. Therefore, the hypothesis is in favor of an expansionary monetary policy. Government spending on infrastructure, unemployment benefits, and education are its key tools. Overusing Keynesian programs has the disadvantage of raising inflation. An economic school of thinking known as Keynesian Economic Theory holds that for economies to recover from recessions, government involvement is required.
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The first two-party system consisted of the Federalist Party, which supported the ratification of the Constitution, and the Democratic-Republican Party or the Anti-Administration party (Anti-Federalists), which opposed the powerful central government that the Constitution established when it took effect in 1789.
It is important to start practicing alternatives to non-renewable resources because we are running out very quickly and they will not be around forever. Hope this helps :)<span />
Answer:
one player's optimal action choice taking the other player's action as given
Explanation:
The best response is a strategy from the game theory. This strategy holds that a player could select a strategy that favors him most given the strategies of other players. This is in reference to John Nash's Nash Equilibrium that explains that a player could reach that point(equilibrium) where he selects the best response or one of them that works best considering other players' strategies.
