Final answer:
Keynesian economists emphasize demand as the key side of the economy, based on the idea that aggregate demand generally has a greater impact on the economy in the short run and the assumption that prices and wages can be sticky.
Step-by-step explanation:
For Keynesian economists, the key side of the economy is the demand side. This emphasis stems from the belief that aggregate demand is often the primary force behind economic fluctuations, especially in the short run, such as during a recession. The assumption that leads to this emphasis is that wages and prices can be sticky, meaning they do not adjust quickly to changes in economic conditions, leading to unemployment instead of price reductions.
Therefore, in some instances, increased spending may have a greater effect on output and employment than on prices. Keynesians also acknowledge an expenditure multiplier, where a change in spending leads to a more than proportionate change in the gross domestic product (GDP).