With a detailed study of following chapters, it can be seen that a specialized view of Classical, Monetarist as well as Keynesian views are to be taken into consideration. While studying, an idea of the actual Keynesian model is to be found, which has become almost irrelevant in present times primarily because it clearly depicts condition and situation of aggregate demand.
This is further higher in comparison to the rates of changes in expenditure level in comparison to level of aggregate demand. Now to get a deeper and wider prospect of business cycles and U.S. economy in consideration the usual AS-AD model can be applied at every step.
What is now more important is monetary and fiscal policies as presented by the Federation as well as economic policies presented by the Congress administrators.
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