Classical Economics
This school of economics believed the market would naturally fix itself without government intervention.
What is Classical Economics?
He argued that total spending in the economy is the primary driver of growth and employment.
Who is John Maynard Keynes?
This key economic indicator showed negative growth for three consecutive years.
What is GDP growth?
This law claims that " supply creates its own demand"
What is Say's Law?
Keynes recommended increasing this type of government action to stimulate the economy during a recession.
What is fiscal Policy?
A decrease in tourism, exports, and remittances during this global event contributed to Jamaica’s slowdown.
What is the Global Financial Crisis?
This historical event exposed the limitations of Classical Economics by causing massive unemployment and falling demand.
What is the Great Depression?
This term refers to the total amount of spending by households, businesses, and government.
What is aggregate demand?
The government used this type of Keynesian policy to create jobs and stimulate spending.
What is public infrastructure investment?