Questions

The ASEAN Headquarters is located in Jakarta, Indonesia.

ASEAN is The Association of Southeast Asian Nations is a group of ten Southeast Asian countries. It was formed on 8th August 1967. The 10 countries in ASEAN are Indonesia, Malaysia, Philippines, Singapore, Brunei, Myanmar, Cambodia, Laos, Vietnam and Thailand.

Its main purpose include the acceleration of economic growth, social progress, cultural development among its members, the protection of the peace and stability of the region, and to provide opportunities for member countries to discuss differences peacefully.

J.M Keynes’ theory of employment is a demand-deficient theory. This means that Keynes visualised employment from the demand side of the model. His theory is a demand-oriented approach, as opposed to the classical supply side model.

According to him,the volume of employment in a country depends on the level of effective demand of people for goods and services. Thus, unemployment is attributed to the deficiency of effective demand.