Describe what a classical macroeconomist

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Reference no: EM132560188

Use the following data to work Problems 1 to 4:

The following events have occurred in the history of the United States:

· A deep recession hits the world economy.
· The world oil price rises sharply.
· U.S. businesses expect future profits to fall.

Describe what a classical macroeconomist, a Keynesian, and a monetarist would want to do in response to each of the events listed above.

Reference no: EM132560188

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