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In: Economics

Graphically illustrate a recession and note the steps 1 to 2 and 2 to 3 and...

  1. Graphically illustrate a recession and note the steps 1 to 2 and 2 to 3 and in a bullet list or narrative.

       Discussion:

  1. Specifically address the different policy recommendations specifically between the Keynesian and Monetarist/classical school for getting the economy out of the recession.
  2. What about the rational expectations school adjustment process? What are some of the key assumptions of the rational expectations with regards to the business cycle and the flexibility of prices and wages?

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Expert Solution

Rahul Sunny answered 2 years ago
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