Objective: In this assignment, you will be applying Keynesian and Neoclassical economics to the current economic...

Objective:

In this assignment, you will be applying Keynesian and Neoclassical economics to the current economic crisis resulting from the COVID-19 pandemic.

Instructions:

Respond to the following prompt in a post with a minimum of 250 words, then comment on at least TWO other posts. Feel free to bring in additional references to you posts and/or comments. [Please note that you can access the grading rubric by clicking on the top right corner of this post and select 'Show Rubric'.]

Since the outbreak of COVID-19 the US is going through one of the biggest recession of all time. How would Keynesian economists explain the current economic recession? Feel free to use graphs, news report to explain your reasoning.
How would Neoclassical economists explain the the current economic recession? Feel free to use graphs, news report to explain your reasoning.
Which interpretation makes the most sense to you? Why?

Expert Solution

Rahul Sunny answered 2 years ago

According to Neoclassical and Keynesian economics, what is the direction of causation between savings and investment,...

According to Neoclassical and Keynesian economics, what is the direction of causation between savings and investment, respectively?

1. Keynesian economics and neoclassical economics have been challenging, attacking and refuting one another ever since...

1. Keynesian economics and neoclassical economics have been challenging, attacking and refuting one another ever since his General Theory from 1936. (a) outlines the basic dispute between them and (b) explains why so old and often repeated debate continues to be a major concern of the mainstream economics profession.

Principles of Macroeconomics Discussion: Keynesian vs. Neoclassical Economics Please respond with a minimum of 100 words...

Principles of Macroeconomics Discussion: Keynesian vs. Neoclassical Economics Please respond with a minimum of 100 words Thinking back to the business cycle discussion, how would Keynesian economists explain the performance of the economy during the last few years? What has happened to aggregate demand? What evidence can you present to support this position? Next, how would neoclassical economists explain the performance of the economy during the last few years? What has happened to aggregate supply? What evidence can you present...

Discussion 6: Keynesian vs. Neoclassical Economics 11 unread reply.11 reply. Respond to the following prompts in...

Discussion 6: Keynesian vs. Neoclassical Economics 11 unread reply.11 reply. Respond to the following prompts in a post with a minimum of 100 words, then comment on at least ONE other posts. Thinking back to the business cycle discussion, how would Keynesian economists explain the performance of the economy during the last few years? What has happened to aggregate demand? Next, how would neoclassical economists explain the performance of the economy during the last few years? What has happened to...

(a) Although Keynesian economics provided alternative solutions to address the economic depression of the 1930s, it...

(a) Although Keynesian economics provided alternative solutions to address the economic depression of the 1930s, it is not free of limitations. Write an essay in which you evaluate the relevance of the criticisms of Keynes and Keynesianism in Africa. (b) Write an essay in which you explain why, according to Milton Friedman, “inflation is always and everywhere a monetary phenomenon”.

a) Although Keynesian economics provided alternative solutions to address the economic depression of the 1930s, it...

a) Although Keynesian economics provided alternative solutions to address the economic depression of the 1930s, it is not free of limitations. Write an essay in which you evaluate the relevance of the criticisms of Keynes and Keynesianism in Africa. (b) Write an essay in which you explain why, according to Milton Friedman, "inflation is always and everywhere a monetary phenomenon".

- What role does command play in economic decision making and relationships, according to neoclassical economics?...

- What role does command play in economic decision making and relationships, according to neoclassical economics? What is the relationship between this position on command and the neoclassical view of contracts? - What role does command play in economic decision making and relationships, according to political economy? What is the relationship between this position on command and the political economy view of contracts?

What role does command play in economic decision making and relationships, according to neoclassical economics?

What role does command play in economic decision making and relationships, according to neoclassical economics? What is the relationship between this position on command and the neoclassical view of contracts?

Project Assignment The purpose of this assignment is for you to gain practice in applying the...

Project Assignment The purpose of this assignment is for you to gain practice in applying the concepts and techniques we learned in class. In order to complete the assignment, please do the following: 1. find or create a data set containing values of at least one interval or ratio variable for at least one-hundred cases (n >= 100); 1 2. provide basic descriptive statistics to summarize the central tendency and variability of the data; 3. provide at least one table...

In most regards, supply-side economics and Keynesian economics are __________.

In most regards, supply-side economics and Keynesian economics are __________.A.closely associatedB.complementaryC.oppositesD.nearly identical

Question