Which worldview makes the most sense?Keynesian perspective or the Neoclassical perspective of economics and why?

Q: Compare and contrast Neoclassical Economic Theory to Keynesian Economic Theory and post the…

A: Neoclassical economics is a theory that focuses on how the perception of efficacy or usefulness of…

Q: Would it make sense to argue that rational expectations economics is an extreme version of…

A: As per the definition, the neo classical theory is based on the assumption that people have rational…

Q: Discuss the role of positive economics and narrative economies in the policymaking?

A: The discipline of economics that deals with describing and understanding economic phenomena is known…

Q: discuss at least 5 key features of the classical economic thought

A: Classical economics is a school of economic theory that emerged in the late 18th and early 19th…

Q: The $2.2T Coronavirus Aid, Relief and Economic Security (CARES) Act & the $1.9T American Rescue Plan…

A: Expansionary fiscal policy refers to when the government uses budgetary measures to boost spending…

Q: In your view, is the economy currently operating in the Keynesian, intermediate or neoclassical…

A: From the Keynesian point of view, the aggregate demand is not equal to aggregate supply due to…

Q: True or False? In an assigned reading, Milton Friedman indicated that he agreed with John Maynard…

A: Answer - "Thank you for submitting the questions.But, we are authorized to solve one question at a…

Q: How would you compare and contrast Keynesian and neo-classical theories?

A: Keynesian economists start from the theory of Keynes who was summoned by the President of Country U…

Q: Who currently favors Milton Friedman’s theories currently?

A: Answer -

Q: Why would an economist choose either the neoclassical perspective or the Keynesian perspective, but…

A: The term neoclassical represented the consumers first concern is to maximize personal satisfaction.…

Q: From a neoclassical view, which of the following is least important? Select one: a. improving the…

A: Answer: Correct option: (a) Explanation: Improving the corporate portfolio is the least important…

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: Compare the classical economic theory that was used prior to the Great Depression to the Keynesian…

A: Classical economic theory, This theory is based on the classical quantity theory of money in which…

Q: in economics the central problem is??

A: In economics the central problem or basic problem is scarcity. In other words, economy’s resources…

Q: How do Classical economists and Keynesian economists differ in their perceptions of how well markets…

A: The classical theory focuses on free markets and that the markets will regulate themselves when they…

Q: the father of classical school of economics was Adam Smith? a. True b. False

A: Adam Smith is considered the father of Classical economics, he had written “The Wealth of Nations”…

Q: Who favors John Maynard Keynes theories currently and how are they applied?

A: John Maynard Keynes is an British economist who developed Keynesian economics in 1930s  in order to…

Q: I need a basic explanation of John Maynard Keynes work.

A: At the time of Great Depression of the 1930s all the basic existing economic theory was unable to…

Q: What is meant by the term neoclassical counterrevolution? What are its principal arguments, and how…

A: A neoclassical counterrevolution is a form of philosophy of economic growth introduced in the 1980s…

Q: Describe four ways in which critics hold that neoclassical economic approaches can worsen…

A: Neoclassical economics is a collection of economic strategies that concentrate on deciding the…

Q: Explain what are the differences between classical economist and Keynesian economist point of view?

A: Classical and Keynesian economics are two schools of thought with opposing methods to defining…

Q: Which perspective is better suited to handling the recession that was caused by the pandemic?…

A: When talking about different schools of economics, it can be said that the relevance of the theory…

Q: Does neoclassical economics focus on the long term or the short term? Explain your answer.

A: The perspective of neoclassical economics states that during the long run, the economy would adjust…

Q: If markets do not self-adjust, how can a decline in spending lead to a negative process that ruins…

A: Markets usually self adjust in the long run, if the market do not self adjust then any kind of a…

Q: Discuss the core notions of the market-friendly approach, one of the three ideological strands…

A: Neoclassical economics is a very wide approach that tries to explain the production of goods and…

Q: Why does neoclassical economics emphasize growth?

A: The neoclassical perspective argues that the economy would adjust back to its potential GDP level of…

Q: What is the Keynesian and Neoclassical models

A: The Keynesian and Neoclassical models are two economic models with different points of view…

Q: What are the principal differences between the Neoclassical and Keynesian approaches with examples

A: Neoclassical and Keynesian approaches provide varied Macroeconomic interpretations. The…

Q: What is market fundamentalism under the neoclassical counterrevolution?

A: Neoclassical economics refers to the revised form of classical economics that believes in free…

Q: When it comes to advice being given to policy makers, economists may offer conflicting advices for…

A: Policy makers while taking advice from different economist’s always face conflicts for determining…

Q: What, using examples, are the main contrasts between the Keynesian and Neoclassical approaches?

A: Numerous macroeconomic views are offered by neoclassical and Keynesian perspectives. Contrary to…

Q: Briefly discuss the key difference(s) between Keynesian Economics and Neoclassical Economics.

A: The Keynesian and Neoclassical model comparision

Q: What is an assumption of a Neoclassical model? a. The future is uncertain b. Output increases when…

A: In economics, there are different views according to which economists make their theory and models.

Q: Who currently favors John Maynard Keynes theories?

A: Answer-

Q: Do neoclassical economists tend to focus more on long term economic growth or on recessions? Explain…

A: All economic factors, such as demand, savings, costs, and investment, are beginning to decrease in…

Q: Does neoclassical economics view prices and wages as sticky or flexible? Why?

A: Neoclassical economics is a school of thought that is associated with the names of economists such…

Q: What portions of Keynesian economic theory have the most merits?

A: Keynesian economic theory is developed by John Keynes. He emphasizes on the government intervention…

Q: why would an economist choose ethier the neoclassical perspective or the keynesian perspective, but…

A: Neoclassical economists believe in Say’s Law, which states that demand creates its own supply while…

Q: Summarize the Keynesian and Neoclassical models.

A: The following two theories have been distinguished as follows: