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Q. Macro-economics is perhaps most divisive area of economics when functionalized to political decision making, also macro-economists divide themselves into different schools of contemplation. Two biggest camps are the Keynesians and the Monetarists. Keynesians and post-Keynesians follow the theories of John Maynard Keynes, the most-celebrated economist of the 20th century who proposed that government stabilize the economy with the use of fiscal policy. Monetarists, on another side follow teachings of Friedrich Hayek. For this project do some research on ideas of Keynes and Hayek? Focus on the "big picture" of what their major ideas are and how they have influenced policy makers. Then write a 4 to 5 page paper addressing the following questions:
1. a. Discuss the policies that Keynes as well as Hayek supported regarding how federal government ought to manage economy. What are differences between each school of thought?b. Based on your answer to question #1a, which of 2 economists you agree with most? Explain.
2. Read Case in Point 3: Steering on a Difficult Course in section 17.3 of the online text (link here).a. Why did people believe the difficulties Asian economies were experiencing in 1997-1998 might bring a recessionary gap to the United States?b. In dealing with the recession of 2008 why is it important for the Fed and Congress to coordinate monetary and fiscal policy measures?
3. Compare the rationale of the Reagan administration for the 1981 tax reductions with the rationale behind the Kennedy-Johnson tax cut of 1964, the Bush tax cut of 2001, and the Bush tax cut of 2003.
Analyze the USA financial meltdown that happened in 2008-2009. This crisis was partially caused by the reward systems that were in place for participants in the financial system. Identify the major participants in the financial system.
explain why does not just one state produce all of the orange juice for the U.S. market? Can you answer this question without the simulation.
Graph the Demand facing your situation. Note that this requires information from the Supply Determinant analysis before deciding how to draw the curve(s), as you may need a separate MR curve.
Approximately how much output should the firm allocate to market 2? What is the approximate price that will be charged in market 1? What is the approximate price that will be charged in market 2?
How might oligopolistic increase total revenue without changing prices.
Discuss the effects of HIV/AIDS on the economies of african countries. Making sure to discuss the sources of economic growth and the use of scarce resources.
Suppose we refused to sell goods to any country that reduced or halted its exports to us. Who would benefit and who would lose from such retaliation. What could you suggest alternative ways to ensure import supplies.
Choose a country other than the country in elucidate which you currently reside elucidate which has not already been selected by another student also research the EIU country data.
q. new manufacturing technologies are often viewed as labor saving in nature. using a production possibilities frontier
Illustrate what happens to wheat farmers and the market for wheat when university agronomists discovers a new wheta hybrid that is more productive than existing varieties? show graphically.
Evaluate the risk categories, countries, and industries represented in this index 2019s leading companies.
Write down a formula that describes the marginal product of labor in the short run as a function of the amount of labor used.
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