For the Answers to this DAC assignment, please read information in the Assignment Resources folder. These resources will hopefully direct you to the answers. A. Keynesianism (fiscal

Microeconomics: Keynesianism(Fiscal policy) and Classical Economists(Monetary ploicy)A. Keynesianism (fiscal policy)1. Identify what Keynes thought caused the Great Depression of the 1930s.2. Identify the most important cause according to Keynes and indicate what government policy he thought could be implemented to get the economy working again.3. What Keynesian government policy (policies) was (were) implemented to combat the Great Recession of 2007-2009? What Keynesian policy (policies) was (were) implemented to combat the blow to the national economy due to the Covid-19 lockdown?4. How big are the Keynesian Spending Multipliers in the real world? Find estimates of them.5. Choose one of these estimates (there are many) and use the Keynesian Autonomous Spending Multiplier formula to work backwards from the estimated size of the multiplier to what size the Marginal Propensity to Consume would have to be for that multiplier to be true.B. Classical Economists (monetary policy)1. If Classical economists believe markets always tend to equilibrium, what did they think causes recessions and depressions?2. After watching Milton Friedman’s “Anatomy of a Crisis,” explain what Friedman, a neo-classical economist, thinks caused the Great Depression to be so severe. The video which was recorded in 1979 can be seen on YouTube here: https://www.youtube.com/watch?v=SWVoPrntBso.3. State briefly how this agrees with or disagrees (maybe both) with Keynes’ analysis of the cause and severity of the Great Depression.4. What policy would Friedman’s classical analysis lead him to propose?5. Look up data on FRED on what happened to the money supply and excess reserves in the 2007-2009 Great Recession and the 2020 Covid-19 contraction. By how much did M1 Money Stock and Excess Reserves increase in absolute dollars and in percentage terms from December 2007 to April 2014? How much did M1 Money Stock and Excess Reserves increase in absolute dollars and in percentage terms from February 2020 to May 2021?C. Considering the arguments and policies advocated by both the Keynesians and the monetarist Classical Economists you discussed above, which do you think worked best to pull the economy out of a recession in both cases? (Note: There is not right answer here. The instructor just wants to read your thinking on the matter.)

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more