What evidence have you discovered that points to the Classical, Keynesian, and Monetarist theories being debated today?

Q: Why is it so important to get incentives right when creating a policy

A: Policymakers need to think about incentives so they can understand how people will respond to the…

Q: True or False : Explain Why The first Welfare Theorem formally shows that macroeconomic policy is…

A: In economics, welfare theorems are used to describe the economic equilibrium in different situations…

Q: what are the benefits and costs of policy intervention?

A: Policy interventions can have both benefits and costs, which depend on various factors such as the…

Q: Is black money hurdle for economic progress? Discuss any five points.

A: Funds which are earned through illegal activities are called black money. Also, the legal income not…

Q: Why is economics so useful for, or amenable to, policymaking?

A: Policy making refers to the plans of the government according to the vision and current situation…

Q: Which of the following statements would most likely be made by someone following New Classical…

A: The follower of new classical economics does not believe in the active government intervention in…

Q: A. The RBA (Reserve Bank of Australia) is concerned about the trend since the early 2000s of a 75%…

A: Introduction Question related to the topic study of economics among students.

Q: Does the public's expectation of a policy influence its effectiveness?

A: Answer: Yes, the public expectations of a policy influence its effectiveness. People form their…

Q: Consider the Keynesian models of Business Cycles. Suppose you see a recession (drop in output) that…

A: DISCLAIMER  “Since you have asked multiple questions, we will solve the first question for you. If…

Q: Why would a Monetarist advocate a balanced budget amendment to the Constitution?

A: The monetarist school of economic thought is an important one amongst the different schools of…

Q: What are the policy options for containing cost? What are cost-containing strategies used in the U.S

A: Containing cost is described as a practice of a business of maintaining the levels of expenses to…

Q: If you had to make a choice today between a policy that would head off increases in inflation or…

A: Phillip curve refers to the single equation economic model, named after William Phillips, tells an…

Q: How are monetary and fiscal government policies being affected by this corona virus pandemic ? And…

A: The use of taxation and expenditure by the government to affect the economy is known as fiscal…

Q: What was Milton Friedman’s work?

A: When talking about economists, Milton Friedman was the popular economist who gave many economic…

Q: u are hired by the government to evaluate the impact of a policy change that affects individuals but…

A: Difference in-differences approach endeavors to quantify the impacts of an abrupt change in…

Q: oclassical

A: Neoclassical economics is a broad theory focusing upon the supply and demand as being the driving…

Q: How did the administrative command system give rise to the “shadow Economy”? How did the shadow…

A: Shadow economy: Shadow economy, often known as the underground, informal, or parallel economy,…

Q: In neoclassical economic theory markets are relied on to allocate resources and distribute income –…

A: Market Failure refers to a situation when, the market mechanism, which is based on the forces of…

Q: 1. Milton Friedman is best known for his work in which economic field? a) Keynesian economics b)…

A: “Since you have posted multiple questions, we will provide the solution only to the first question…

Q: Why does the Federal Reserve (FED) raise the discount rate when the economy is strong?

A: Discount rate means interest rate.Raising or lowering nterest rate is part of the federal monetary…

Q: How can expectations about the future change what consumer buy now?

A: In economics, the law of demand establishes the negative correlation between the price and the…

Q: What are the limitations of using the representative agent and rational expectations model as the…

A: Both the models of rational expectations and that of a representative agent bring fractions of…

Q: For each of the following statements, say whether they are True or False, and explain your answer…

A: Since you have posted multiple questions, I will answer the first one for you. If you want the…

Q: In early 2020, some commentators warned that the unprecedented global pandemic crisis   would lead…

A: (Q)In early 2020, some commentators warned that the unprecedented global pandemic crisis would lead…

Q: During the 18th century classical was the mainstream school of economics.

A: Classical school of economics consist of many economists like Adam Smith, J B Say etc,,.. who give…

Q: Which of the following statements would most likely be made by someone following New Classical…

A: The new classical economists do not favor any active intervention in economic activities. They are…

Q: In the financial market, what causes a movement along the demand curve? What causes a shift in the…

A: A Demand curve represents the relationship between the price and the quantity demanded. This is…

Q: The use of money and credit controls to influence macroeconomic activity is:   A) monetary policy…

A: Controlling money refers to the control of the money supply in an economy as high and low money…

Q: Do the length and severity of the Great Depression reflect a defect in the operation of markets? Do…

A: The economic depression between the years 1929 to 1939 in the world is called as Great Depression.…