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HOW ARE DATA PRIVACY REGULATIONS IN THE UNITED ARAB EMIRATES AND THE EUROPEAN UNION PROTECTING CUSTOMERS IN THE BANKING INDUSTRY – A COMPARATIVE STUDY
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demand, the Keynes theory argued that the cause to effect theory was running from demand to supply. For the Keynesians, businesses are basing their decision of production on the level of expected demand or the total expected spending. Which in other words mean the more consumers, investors, and others plan to spend, the more output the businesses are expect to sell and so the more they will decide to produce. So, in the Keynesian theory, the supply/ output is a response to demand, not the opposite as the classical economists suggested. Furthermore, Keynes argued that the classical economists were wrong in believing that interest rate adjustments and wage/price flexibility would prevent unemployment. Full employment is possible only when the level of total spending is adequate. If spending is inadequate, unemployment will result. So, Keynesâ theory rejected that the market economies lead automatically toward a full employment (classical theory). Keynes focused all his attention on what is the critical determinant of an economyâs health which are either the level of demand or the total spending. So, the Keynesian believes that a government interventions through expansionary policies will have for consequences to boost the investment and also promote the demand so businesses will reach full production. The promoted demand corresponds to the effective demand, that have for objective to maximize the utilization of the limited resources. On the other hand, the demand be>
demand, the Keynes theory argued that the cause to effect theory was running from demand to supply. For the Keynesians, businesses are basing their decision of production on the level of expected demand or the total expected spending. Which in other words mean the more consumers, investors, and others plan to spend, the more output the businesses are expect to sell and so the more they will decide to produce. So, in the Keynesian theory, the supply/ output is a response to demand, not the opposite as the classical economists suggested. Furthermore, Keynes argued that the classical economists were wrong in believing that interest rate adjustments and wage/price flexibility would prevent unemployment. Full employment is possible only when the level of total spending is adequate. If spending is inadequate, unemployment will result. So, Keynesâ theory rejected that the market economies lead automatically toward a full employment (classical theory). Keynes focused all his attention on what is the critical determinant of an economyâs health which are either the level of demand or the total spending. So, the Keynesian believes that a government interventions through expansionary policies will have for consequences to boost the investment and also promote the demand so businesses will reach full production. The promoted demand corresponds to the effective demand, that have for objective to maximize the utilization of the limited resources. On the other hand, the demand be>
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