Describe the steps involved with measuring inflation.
Identify and briefly describe the 2 main problems that always
arise from measuring price levels with a fixed basket of goods and
what steps can be taken to counter these problems.
What is the main statement of Keynesian economics regarding
wages and the labor market?
What would that mean regarding the shape of the SRAS and the
LRAS?
What does that mean regarding Monetary and Fiscal
Policies?
Briefly describe the main architectural components of a cellular
radio system. Identify the primary purpose of each. Identify the
two major components and their respective subsystems. Ensure you
identify which component interacts with cellular phone and which
component interacts with public switched telephone network (PLEASE
TYPE NOT WRITE ANSER)
2.
KEYNESIAN AND SUPPLY-SIDE ECONOMICS
Keynesian and Supply-Side Economics are two competing
macroeconomic approaches to correcting an economy that is
experiencing a recessionary gap.
1. Summarize the two schools of macroeconomic theory.
2. What is the primary difference between the two
approaches.
3. Summarize the primary criticisms of each approach.
4. The Reagan administration used supply-side economics to
“right” the economy in the early 1980s—explain why that approach
was better than a Keynesian approach given that the economy was
suffering...