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Macroeconomics | © John Petroff Source: PEOI |
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Assignment #1:
Outline the basic
propositions of the classical theory. What
are their views about individual markets?
Assignment #2:
Outline the essence
of Keynesian critique of the classical
theory.
Assignment #3:
Compare the
views offered in the classical theory and the
Keynesian model on what should be done about the business
cycle.
Assignment #4:
Draw the 3 ranges
of aggregate supply in the introductory graph.
Explain each.
Assignment #5:
In the introductory
graph, discuss what would happen if
the aggregate demand is shifted in the Keynesian range,
then if it is shifted in the classical range.
Assignment #6:
Show in the introductory
graph how policies dealing with
unemployment would work. Explain.
Assignment #7:
Show in the introductory
graph how policies intended to deal with
inflation are supposed to work. Explain.
Assignment #8:
In the introductory
graph, show and explain what would be
accomplished by shifting aggregate supply.
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