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- If the production conditions in the United States and Japan were to become essentially the same, would the neoclassical model suggest that trade between the two countries would cease? Why or why not? Illustrate your answer with a graph.From a neoclassical view, which of the following is least important? Select one: a. improving the corporate portfolio b. stimulating potential GDP c. increasing aggregate demand to fight unemployment d. encouraging long-term growthFrom a neoclassical view, which of the following is less important? fighting unemployment encouraging long-term growth encouraging more productivity per worker level of potential GDP
- One practical limitation of the Classical or Neoclassical model is that it suggests allowing the economy to self-correct in the long run, but recessions may last a very long time. How severe is this problem and why? What is one example?Macroeconomics: Regarding Neoclassical Economic Theory: Question: Which type of interventions, if any, are best for the economy? Can you explain your reasoning behind that answer please?What is an assumption of a Neoclassical model? a. The future is uncertain b. Output increases when demand in the economy increases c. There is full employment in the economy d. Governments should have a balanced budget Answer correct and explain within 30 mins will give you positive feedback.