Society, Politics & Law
Economics and the 2008 crisis: a Keynesian view
...write ‘bY’ instead of writing ‘b × Y’ (with the multiplication sign ‘×’). The general rule is that when two terms are placed side by side, they are to be multiplied. The economy as modelled by the circular flow diagram, below, appears to be a rather peaceful place, where expenditure is always identical to output and saving is always identical to investment....