KEYNESIAN MACROECONOMICS Definition

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KEYNESIAN MACROECONOMICS is the theory that shows how a market-based capitalist economy may reach equilibrium with large scale unemployment and how government spending may be used to raise it out of this to a new equilibrium at the full-employment level of output.

Learn new Accounting Terms

ACCOUNTS PAYABLE (AP) are trade accounts of businesses representing obligations to pay for goods and service received.

DEBTORS LEDGER see LEDGER.

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