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Q. Macro-economics is perhaps most divisive area of economics when functionalized to political decision making, also macro-economists divide themselves into different schools of contemplation. Two biggest camps are the Keynesians and the Monetarists. Keynesians and post-Keynesians follow the theories of John Maynard Keynes, the most-celebrated economist of the 20th century who proposed that government stabilize the economy with the use of fiscal policy. Monetarists, on another side follow teachings of Friedrich Hayek. For this project do some research on ideas of Keynes and Hayek? Focus on the "big picture" of what their major ideas are and how they have influenced policy makers. Then write a 4 to 5 page paper addressing the following questions:
1. a. Discuss the policies that Keynes as well as Hayek supported regarding how federal government ought to manage economy. What are differences between each school of thought?b. Based on your answer to question #1a, which of 2 economists you agree with most? Explain.
2. Read Case in Point 3: Steering on a Difficult Course in section 17.3 of the online text (link here).a. Why did people believe the difficulties Asian economies were experiencing in 1997-1998 might bring a recessionary gap to the United States?b. In dealing with the recession of 2008 why is it important for the Fed and Congress to coordinate monetary and fiscal policy measures?
3. Compare the rationale of the Reagan administration for the 1981 tax reductions with the rationale behind the Kennedy-Johnson tax cut of 1964, the Bush tax cut of 2001, and the Bush tax cut of 2003.
If typographical errors occur andomly, about how many pagesin book have three typographical errors. What is the median number of typographical errors per page.
Quantity, whole revenue and profit when company charges different price in each market and exploits its total profit.
This document contains various important questions and their appropriate answers in the subject field of Economics.
In a typical day the store sells some of each type of cola, which suggests that Major League Baseball has adopted FOA because it fears that regular binding arbitration is addictive.
he perfectly competitive form maximizes profits by producing 10 units of output. At what price does it sell these units.
If most businesses in an industry are earning a 13 percent rate of return on their assets, but your firm is earning 23 percent what is your rate of economic profit
Paul owns a home on the top of a hill and enjoys an unobstructed view of a large wooded area.
If she neither borrows nor lends, which project has the higher present value at the interest rate 50%. Which has the higher present value at an interest rate of 5%.
Similarities in the definitions of management quoted from authors of management textbooks
Indicate if GDP is affected, under what category and what happens to GDP Oklahoma cleans up after a devastating tornado.
Bud Owen operates Bud's Package Store in a small college town. Bud sells six packs for off-premises consumption.
Assuming no other changes, if balances in money market deposit accounts increase by $50 billion and small-denominated time deposits decrease by $50 billion.
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