Discuss the positive contributions that the New Classical theory made to macroeconomics.

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Macroeconomics

ISBN: 978-0138014919

12th edition

Authors: Robert J Gordon

Question Posted: Dec 09, 2015 03:26 AM

See More Questions

New Keynesian theory holds that wages are not completely flexible because of such things as long-term labor contracts. New classical economists often respond that experience teaches labor leaders to...
Why is the new classical theory associated with the word classical? Why has it been said that classical theory failed where new classical theory succeeds, -because the former could not explain the...
The policy ineffectiveness proposition (connected with new classical theory) does not eliminate policymakers ability to reduce unemployment through aggregate demand-increasing policies, because they...
In the Diffie-Hellman protocol, what happens if, x and y have the same value? That is, Alice and Bob have accidentally chosen the same number. Are the values of R1 and R2 the same? Are the values of...
In what stage of the scientific method is creativity and creative thinking most important? Briefly explain.
Wildlife researchers monitor many wildlife populations by taking aerial photographs. Can they estimate the weights of alligators accurately from the air? Here is a regression analysis of the Weight...
What are the different types of organizational forms that corporations use for international operations?
A country currently imports automobiles at $8,000 each. Its government believes that, given time, domestic producers could manufacture autos for only $6,000 but that there would be an initial...
The lost value of equipment over a period of time is called depreciation. The simplest method for calculating depreciation is straight-line depreciation. The annual straight-line depreciation D of an...
As the accountant for Runson Moving Company, you are preparing the companys annual return, Form 940 and Schedule A. Use the following information to complete Form 940 and Schedule A on pages 5-40 to...
What is meant by intertemporal substitution? How is the slope of the labor supply curve related to the ability of a real business cycle model to explain the realworld behavior of the real wage rate...
Compare the growth rates of input, output, and multifactor productivity in Japan and the United States since 1970.
Explain the different types of partners and the importance of partnership agreements.
List five attributes that characterize exceptional organizations and explain their significance to operational auditors.
Suppose that firms were expecting inflation to be 3 percent, but it actually turned out to be 7 percent. Other things equal, firm profits will be: a. smaller than expected. b. larger than expected.
List five continuous monitoring/auditing routines you would recommend to a client for a payment processing operation. Specify what data would be collected, how it would be analyzed, the reporting...
Describe five key steps that an operational auditor should perform when auditing an organizations PMO.
Relate the three main forms of resistance to Situational Positioning and how awareness of this impacts risk assessments.
In a survey, 2,400 cable company subscribers were asked to share their complaints about the cable service. The number one complaint was the time to get through to a customer representative, with 17%...
Find the radius of convergence in two ways: (a) Directly by the CauchyHadamard formula in Sec. 15.2. (b) From a series of simpler terms by using Theorem 3 or Theorem 4.
Following are two hypothetical ways in which the Federal Reserve Board might be appointed. Would you favor either of these two methods over the present method? Why or why not? a. Upon taking office,...
Following are two hypothetical ways in which the Federal Reserve Board might be appointed. Would you favor either of these two methods over the present method? Why or why not? a. Upon taking office,...
Suppose that Continental Bank has the simplified balance sheet shown below and that the reserve ratio is 20 percent: a. What is the maximum amount of new loans that this bank can make? Show in column...
An empirical evidence against the clientele effect is that firms rarely adjust their capital structure, while changes in investors' preferences usually happen at a higher frequency. True/False...
Khazanah Bhd shares are currently at RM15.00. 3-month call and put options with RM15.00 exercise price are being quoted at RM0.75 and RM0.19 respectively. The R f rate is 12% per annum. (a)Using...
"Understanding Operating, Financial and Combined leverage is important in business financial risk analysis." Elaborate the statement.

Discuss the positive contributions that the New Classical theory made to macroeconomics.

Question:

Step by Step Answer:

The New Classical theory has made four positive contributions to macroeconomics First ...View the full answer

Macroeconomics

Students also viewed these Economics questions