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Fill in the following table:
Neoclassical Economics
Keynesian Economics
Focus on long or short term
Prices and wages: sticky or flexible
Economic output: primarily determined by aggregate demand or aggregate supply
Aggregate supply vertical or upward sloping
Phillips Curve vertical or downward sloping
Is aggregate demand a useful tool for controlling inflation
What should be the primary area of policy emphasis for reducing unemployment
Is aggregate demand a useful tool for ending recession
Fill in the following table:
Neoclassical Economics |
Keynesian Economics |
|
Focus on long or short term |
||
Prices and wages: sticky or flexible |
||
Economic output: primarily determined by aggregate demand or aggregate supply |
||
Aggregate supply vertical or upward sloping |
||
Phillips Curve vertical or downward sloping |
||
Is aggregate demand a useful tool for controlling inflation |
||
What should be the primary area of policy emphasis for reducing unemployment |
||
Is aggregate demand a useful tool for ending recession |
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Joshua StredderLv10
28 Sep 2019