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Introduction to Macroeconomics: The Big Picture
Discussing the ideas of John Maynard Keynes and Milton Friedman.
Please address the following questions:
1. Compare and contrast the way Keynes and Friedman approach the economy. What are the key differences and similarities?
2. If Keynes argues for a role for government policies in the economy what is that role and why does Friedman argue against it?
3. Based on the ideas, explain with which of the two economists do you agree more and explain why.
Elucidate why relatively flat as opposite relatively steep labor demand curves are more consistent.
Two identical firms face linear demand. Market demand is given by P=30-Q. Compare graphically consumer and producer surplus in Cournot and Stakelberg equilibria to perfect competition.
Compute the velocity for the two countries in 1985. Explain why do you think the velocity was so much higher in Brazil.
Describe the core principle of the standard and whether or not you are in agreement with the proposed standard.
A marketplace has only two sellers. Both are trying to decide on a pricing strategy.
Discuss the evolution and responsibilities of the Federal Reserve System. What circumstances promulgated both the development and composition of the system.
He define you that the report will be handed out to the staff prior to the staff meeting next week and that it should outline the various forms of market structure.
Explain why this strategy may, in fact, be rational. Also, identify at least two other strategies that might permit Argyle to earn higher profits.
Illustratr what can you infer regarding the own price elasticity of demand for Big G cereal.
Suppose that the economy is short of its full-employment (potential) level of GDP, assumed to be $14,000 billion, by $500 billion.
In national income accounting identity showing the equality between national saving and investment, what is the representation of private saving and what is the representation of public saving?
Does the transaction of a buyer also seller directly affect a third party. Is the effect a negative or positive externality.
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