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Q. Describe the classical model of macroeconomics?
'The classical model' was a term coined by Keynes in the 1930s to signify essentially all the ideas of economics as they apply to macro economy starting with Adam Smith in the 1700s all the way up to the writings of Arthur Pigou in the 1930s.
Now we will describe the major characteristics of what we now call the classical model and how macroeconomic variables are determined in this model. We will focus on the cycles and all the components comprised in the GDP (consumption, investment, imports and exports) are variables where trend has been removed.
Did Germany ever go back on the Gold Standard after World War I and prior to World War II? If so, what were the economic and political effects of doing so? I know it was on the Gol
A government subsidy to the producers of a product: A. reduces product supply. B. increases product demand C. increases product supply. D. reduces product demand.
Q. Explain about Monetary base? Monetary base is defined as the total value of all currency (coins andbanknotes) outside the central bank and commercial banks' (net) reserves w
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Q. Important points about the classic model? The most important points about the classic model are as following: Monetary and fiscal policy can't affect the GDP or unem
i have an assignment i need it to be done by thursday march the 10th before midnight
What is the size of the labor force if the unemployment rate is 6%, the population is 300 million, and the number unemployed is 6 million
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