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Sunday, August 22, 2010

Great Depression of the 1930s

Would not the increase in taxes or the cut in government spending lower aggregate demand, output, and employment?

Oh boy not in the classical system buddy,

because output and employment were supply-determined.

What the hell am i talking about?? yeah what the hell..

Anyway, its in the theories and policies, Ninth edition text book. Copied from there.

Alright, Let's cut to the chase, there will be no tax relief this year.

Hihi sorry, will not do that again. I promise =)

So, i'm an Econ Major.

A good start. Lol.

Later~