Summarize the neoclassical economic model

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Problem: Does Keynesian economics require government to set controls on prices, wages, or interest rates? List three practical problems with the Keynesian perspective. Summarize the Neoclassical economic model. Do neoclassical economists see a value in tolerating a little more inflation if it brings additional economic output? Explain your answer. If most people have rational expectations, how long will recessions last?

Reference no: EM133623953

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