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Q. Describe the classical model of macroeconomics?
'The classical model' was a term coined by Keynes in the 1930s to signify essentially all the ideas of economics as they apply to macro economy starting with Adam Smith in the 1700s all the way up to the writings of Arthur Pigou in the 1930s.
Now we will describe the major characteristics of what we now call the classical model and how macroeconomic variables are determined in this model. We will focus on the cycles and all the components comprised in the GDP (consumption, investment, imports and exports) are variables where trend has been removed.
Now we will analyse how macroeconomic variables fit together and present models which explain the main macroeconomic variables. Using these models we can, for instance, analyse
he questions posed are broad and open ended so be careful to allow yourself enough research and planning time. If you are completely on top of the material delivered in class, then
Use the information below to calculate the numbers instead of "?" marks in the Table. Show and explain all your calculations?
explain the neo-classical theory of trade and show the difference between this and the classical approach, as wellas the similarities
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x=40-0.2p where x=x1+x2 c1=50+2x1+0.5x1 c2=100+10x2
The Red Lobster sells fresh seafood. Red Lobster receives daily shipments of farm-raised fish from a nearby supplier. Each fish cost $2.50 and is sold for $4.00. To maintain its re
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