The concept of 'Effective Demand' was introduced by:
A. Classical economists
B. John Maynard Keynes
C. Monetarists
D. Supply-side economists
Answer: Option B
Solution (By JKSSB Mock Tests)
Keynes introduced the concept of effective demand, which is the level of aggregate demand that is equal to aggregate supply and determines the level of employment and output.
Explanation:
Universal basic services advocates the collective provision of a set of essential services—such as health, education, housing, transport and information—available to all citizens free or at low cost.
Explanation:
Near money refers to assets that are highly liquid and can be converted into cash quickly with minimal loss of value, such as time deposits and certain money market instruments.
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