Explain briefly what responsibility and consequence, if any, each of the following had for the 2008-09 Great
Question:
Explain briefly what responsibility and consequence, if any, each of the following had for the 2008-09 Great Recession: a. homeowners; b. financial institutions; c. the Federal Reserve Bank & government regulators; d. political leaders; e. taxpayers & voters. Has sufficient action been taken to prevent another such financial crisis in the future? Why or why not? Describe and explain three primary alternative responses to the Great Recession that range along the Economic Spectrum from advocates of A) free market economies, B) fiscal and monetary policy interventions in the market, and C) command economies.
List and explain 5 significant areas of difference in their policy solutions. List and explain the three tools of the FED to implement monetary policy for correcting contractions and over-expansions in the business cycle. Explain the controversies surrounding each of these policy tools and how these are currently being practiced. Explain the controversy between discretionary monetary policy and a fixed rule. 8. List and fully explain the winners and losers as a consequence of the redistributive effects of inflation. Explain the impact of this since the creation of the FED.
Explain how the purpose of the International Monetary Fund changed from its inception at Bretton Woods in 1944 to the role it adopted after President Nixon closed the gold window in 1971. Explain the major controversies the IMF has faced throughout its existence. Explain the production structure, referred to as the Hayekian Triangle, and the difference between measures of gross domestic product (GDP) and gross output (GO). Explain how the Austrian Business Cycle Theory (ABCT) of Jesus Huerta de Soto predicts the effects of central bank money and credit expansion on the boom-and-bust business cycle.
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