YOU SHOULD HAND WRITE SX (6) GRAPHS FOR THE QUESTION BELOW.( 2 (TWO) GRAPHS FOR EACH MODEL )

( YOU SHOULD HAND WRITE THE GRAPHS ) DO NOT MAKE IT ON COMPUTER

( YOU SHOULD HAND WRITE THE GRAPHS ) DO NOT MAKE IT ON COMPUTER

( YOU SHOULD HAND WRITE THE GRAPHS ) DO NOT MAKE IT ON COMPUTER

( YOU SHOULD HAND WRITE THE GRAPHS ) DO NOT MAKE IT ON COMPUTER

Compare the following macroeconomic models in terms of Real Costs of Reducing Inflation

• The Keynesian Model
• The Monetarist Model
• The New Classical Model

While Answering This Questions

a)- ( Use Phillips and AS-AD curves FOR EACH ALTERNATIVE MODELS ABOVE AND SHOW THE REAL COSTS OF DISINFLATIONARY POLICIES ON THESE DIAGRAMS. )

* Diagrams should be clear and understandable; SHIFTING PARAMETERS SHOULD BE SPECIFIED FOR EACH CASE.

b)- Compare these three models in terms of the theoretical framework. (assumptions, the role of expectations. hypotheses etc.) behind these results:

• Why, for some models, can the real costs of lowering inflation be so high while in others be lower or zero ? ( very important ! )

( !!!!!! YOU SHOULD DRAW 6 GRAPHS FOR THIS QUESTION. TWO GRAPH FOR NEW CLASSICAL MODEL, TWO GRAPH FOR MONETARIST MODEL AND TWO GRAPH FOR NEW CLASSICAL MODEL !!!!!!)

( PLEASE HAND WRITE THE GRAPHS DO NOT TAKE IT FROM CHAT GPT OR ANY AI TOOLS ! DO NOT USE ANY KIND OF AI TOOL'S WHILE ANSWERING THIS QUESTION )