What is the typical keynesian critique of say law

Reference no: EM131904860

John Maynard Keynes and Friedrich von Hayek Study Guide Questions -

True or False -

1. John Maynard Keynes saved the world's capitalism.

2. "If you lose your job, we're in a recession; if I lose mine, we're in a depression." The saying indicates that choice of words to describe a business cycle is often biased.

3. President Reagan adopted Keynesian economics in the 1980s.

4. One of Keynes's principal ideas is the "liquidity trap". Japan has been a perfect example of the liquidity trap since its bubble burst in the early 1990s.

5. Austrian school felt the state was necessary in order to provide a strong economic foundation.

Short Answers -

1. What is Say's Law? What is the typical Keynesian Critique of Say's Law?

2. According to the video Commanding Heights: Battle of Ideas, what is the major economic-policy difference between John Maynard Keynes and Friedrich von Hayek? Whose policy prescription makes sense to you? Please support your argument.

3. From the US experience with the 2008 global recession, what do you think are the major problems with Keynes theory?

For the short answers do not write an essay. Just write the answer that is required.

Attachment:- Assignment.rar

Reference no: EM131904860

Questions Cloud

Decide the outcome for the case by providing support : Decide the outcome for the case by providing support from scholarly sources such as the textbook, journal articles, cases and information from the CBP website.

Write a reflection journal - strategy for entrepreneurship : Journals are a common tools in the world of creativity, design and innovation. Entrepreneurs use journals to document new potential opportunities; inventors

Explian the relationship between hdi and the national debt : Explian the relationship between HDI and the national debt and relationship between FDI per and average governance g7 countries and ASEAN.

Describe theoretical frameworks of social problems : The an of writing about current events and the news, rather than just thinking about it helps you to understand relevant sociological principles.

What is the typical keynesian critique of say law : John Maynard Keynes and Friedrich von Hayek Study Guide Questions - What is Say's Law? What is the typical Keynesian Critique of Say's Law

Why equilibrium of supply and demand is desirable : Prepare a minimum of 800-word paper addressing each of the following: Explain why equilibrium of supply and demand is desirable.

How would you appropriately respond to this situation : By utilizing the concepts from the readings for this unit, how would you appropriately respond to this situation as a professional?

Design a sales form of pet store : Display both the original forms you collected from the users, and modified ones (if you had to do any modifications).

What type of good can we call toilets : How does income elasticity of demand explain what happened in China? What type of good can we call toilets?

User Account

All Pages