91Ó°ÊÓ

Price - A price is the amount of money or compensation paid or compensated by one party to another in exchange for products or services.

Wage - A wage is a sum of money paid by an employer to an employee for work completed over a set period of time.

Interest rate - The amount of interest due every period, expressed as a percentage of the amount lent, deposited, or borrowed, is known as an interest rate (called the principal sum).

In the near run, Keynesian economics necessitates government intervention in the form of government expenditure or tax cuts. It does not, however, necessitate any type of microeconomic pricing regulations. The government is not required by Keynesian economics to set price, wage, or interest rate controls. Short-run period is important to Keynesian economists.