1. Describe in words the two opposing adjustment processes (Classical or Neoclassical vs. Keynesian) when a disequilibrium occurs in financial markets. Specifically, Saving > Investment

2. Explain the origins of Keynesian macroeconomics. What were Keynes' key ideas ("heresies") and how were they in opposition to the then-dominant neoclassical economic theory.

1. Define, compare and contrast U3 and U6. What is U3 currently?

2. Name and give an example of three determinants or 'shifters' of the product market supply curve.

3. Name and briefly describe the three purposes of, or reasons for the existence of, money.

4. Compare and contrast: cyclical deficit and structural deficit.

5. Define and give an example of stagflation.

6. Consumers and households hold onto cash/money for three reasons. List and briefly describe them.

7. Define Liquidity Trap. What is the significance of a liquidity trap for monetary policy?

8. Name and define the three main types of unemployment. Do not include seasonal unemployment.