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Classical and Keynesian view of the economy Federal Reserve
1. Delineate the differences between Classical and Keynesian views of the economy. Describe the circumstances that led to the development and dissemination of the Keynesian economic theories. Evaluate each system from a modern perspective with special attention to the strengths and weaknesses inherent in each system to influence macroeconomic factors in the current economic environment. Bring the expansion of societal responsibilities and the globalization of markets into the discussion.
2. Describe the functions of money in our society. How does the money supply influence the macroeconomic goals of price stability, full employment, and economic growth? Describe the major tools the Federal Reserve System uses to influence the money supply.
3. What possibilities exist when government increases its level of spending? Describe the role and effectiveness of monetary and fiscal policy in the achievement of these goals. Include a discussion of the monetary base and the concept of the multiplier in your essay.
4. Describe the evolution and responsibilities of the Federal Reserve System. What circumstances promulgated both the development and composition of the system?
Explain how does the Central Bank measure the money supply in the contary. Does the Central Bank have an interest rate policy.
Elucidate why population growth has such a negative impact on economic growth in the Malthusian and Neoclassical growth models.
Illustrate what should the Fed do in inflation continues to fall and eventually starts to become deflation.
Draw a current budget constraint for an assumed single mother (net of child care costs) who loves leisure. Draw the new constraint. Discuss the likely effects on labor force participation and hours of work.
The demand for polished bronze is given by P = 100 - Q/2. Production of polished bronze is controlled by Bronze Indentify BIs profit maximizing output and price. What is the cost to the town of removing the mercury pollution?
If the US population is growing at .88% per year, while GDP is growing at 2.5% per year, and if these growth rates remain constant for the next five years, what will be the population and GDP levels in five years? Please show your work.
Show these data graphically. Upon what specific assumptions is this production possibilities curve based? What would production at a point outside the production possibilities curve indicate? What must occur before the economy can attain such a lev..
Elucidate the roles played by total utility and marginal utility.
Assume that the exchange rate between the Canadian dollar and the Euro is 2 Euros per Canadian dollar.
What were some of causes of stagflation of 1973 and 1979? In what ways were these episodes of stagflation different from great depression of the 1930s?
Illustrate what can you determine about consumer demand for your product from this information
Suppose Shaqueena is currently earning income of $23,000 (I =23) and can earn that income next year with certainty.
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