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Compare and contrast the classical and Keynesian views of aggregate demand and
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- How do Classical and Keynesian economists differ in their view of the aggregate supply curve?From a Keynesian point of view, which is more likely to cause a recession: aggregate demand or aggregate supply, and why?In your view, is the economy currently operating in the Keynesian, intermediate or neoclassical portion of the economy's aggregate supply curve?
- Does the graph above reflect a Classical Model or a Keynesian Model? How do you know? What is happening in this economy in the short run?Suppose the government invests a significant amount in infrastructure. The model of aggregate supply and aggregate demand implies what effect on the economy?The Keynesian model believes that supply creates its own demand. True False
- Aggregate Supply: Explain whether the economy is currently operating in the Keynesian, intermediate or neoclassical portion of the economy's aggregate curve. Also, point out a time when the economy may have been operating at another portion of the aggregate supply curve.Using the aggregate demand and supply model shows how a government can manage aggregate demand.A stimulative monetary or fiscal action should increase aggregate demand. What factors may limit the actual increase in aggregate demand?
- in the keynesian model, an increase in government spending increasesWhat is the best approach to managing the economy, supply-side or demand-side economics? There are two schools of thought on how to managing the economy. The first is demand-side economics which also the Keynesian approach. This approach maintains that the demand for products and services drives the economy as such economic policies should focus on the aggregate demand curve. The other approach is called supply-side economics or more popularly referred to as Reaganomics. In this trickle-down approach, it is postulated that the production of goods and services is what drives the economy with the focus on the aggregate supply curve. Both fiscal and monetary policies have the potential to stimulate change in either the aggregated demand or the aggregate supply curves. In your initial post defend which approach should be used to (ensure to include in your subject line, which approach you are defending): Restore the economy that is in a recession. Identify the challenges that may be…John Maynard Keynes spearheaded a new school of macroeconomic theory during the Great Depression. Which of the following represents a Keynesian point of view of macroeconomics?
