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Macro economics deals mainly with the problems of employment or unemployment, go up prices or inflation and economic growth etc. We foreground these problems. 1. PROBLEM OF UNEMPLOYMENT: The sheer economists believed in lavish employment i.e. exclusively the resources of economy are all-inclusivey use in accord with their capabilities. The labour extract in the economy is bounteousy employed hence there is no possibility of unemployment in the country. The classical economists presented as well as proved their theory of full employment with the help of goods market, labour market, gold market and source market. According to them market forces operate in such a way that full employment is restored automatically. But such utopia of full employment could not exist for ever. J. M Keynes rejected this philosophy of full employment in 1936 by wiring obligate General Theory. According to him equilibrium of level of national income may beat full employment, at above full employment and at below full employment. Thus agree to Keynes capitalist economy may even experience unemployment. To wrap up unemployment Keynes suggested for state intervention. He stressed upon printing of new money and enhancing the job opportunities by introducing Public Works Programmers.

This means that unemployment gibe to Keynes can be removed with the help of deficit budgets on the part of government. Unemployment is not the issue just concerned with the low-down countries it has also hit the developed countries except some sufficient countries. The macro economists are trying very hard to displace unemployment to an end. Now the question rises, how unemployment is defined, nowadays, how it can be removed etc. In very simple words, Unemployment represents that ratio of labour force which fails to get employment. The surveys which have been conducted regarding unemployment in US defined an unemployed person as An unemployed person is one who is not working and (1) he has made a lot of efforts to get... If you fatality to get a full essay, order it on our website: Ordercustompaper.com

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