Purchase Solution

Classical and Keynesian schools of economics

Not what you're looking for?

Ask Custom Question

Question One

Contrast the revenue sources of state and local government vs. the federal government. What are the primary sources of funding for the two levels of government?

Contrast the allocation of spending for state and local government vs. the federal government. Why do you think the two levels of government have different expenditure priorities?

Question Two

What are the differences between the Classical and Keynesian schools of economics?

What was each schoolâ??s response to the Great Depression? How was the Great Depression ultimately alleviated?

Question Three

What is the reserve ratio? What are excess reserves?

What is the difference between the simple and approximate real-world money multipliers?

Question Four

Explain the U.S. gold standardâ??s historical relationship to a fixed exchange rate system and monetary policy.

Describe the history of revisions to the U.S. gold standard and its eventual abandonment. What is the basis of U.S. currencyâ??s value today?

Question Five

Describe the U.S. debt-to-GDP ratio from the 1950â??s to the present. What was its peak period and its nadir?

Why is the debt-to-GDP ratio an important indicator to economists?

Purchase this Solution
Solution Summary

Classical and Keynesian schools of economics are clarified.

Solution provided by:
Jayant Kumar, MBA
Education
  • MBA, Indian Institute of Finance
  • Bsc, Madras University
Recent Feedback
  • "I've posted a similar question for another course. It's post 657940, and it's a practice problem that I'd like to use for the final exam. Your help will be greatly appreciated. "
  • "thank you!"
  • "Thank you again Jayant. You are super fast. "
  • "Thank you Jayant. You are appreciated. "
  • "Again, thank you Jayant. You are wonderful. "
Purchase this Solution
Free BrainMass Quizzes
Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

View More Free Quizzes
Related BrainMass Solutions

  • Keynesian versus classical policies

    This, Keynes thought, conflicted with the tenets of classical economics, and those schools, such as supply-side economics or the Austrian School, which assume a general tendency towards equilibrium in a restrained money creation economy.

  • Keynesian approach to managing the macro-economy

    This, Keynes thought, conflicted with the tenets of classical economics, and those schools, such as supply-side economics or the Austrian School, which assume a general tendency towards equilibrium in a restrained money creation economy.

  • Economic Schools of Thought

    Compare and contrast the classical and Keynesian views of aggregate demand and aggregate supply. 2. Explain one real-world event that supports the Classical theory and Keynesian theory (two separate events for each theory). 3.

  • Policies for combating recession

    A good answer would consider the impact in the context of the three macroeconomic models. (Keynesian, Classical, and Solow) Classical economics, developed in the 18th and 19th centuries, focused on value theory and distribution theory.

  • Classical economics and Keynesian economics

    271046 Classical economics and Keynesian economics Compare the ideas of the Classical economists with the ideas of John Maynard Keynes, and explain what kind of revolution the Keynesian revolution was?

  • Discussion on the Keynesian Critique of Classical Macroeconomics

    2574 Discussion on the Keynesian Critique of Classical Macroeconomics Discuss the Keynesian critique of classical macroeconomics. How does Keynesian economics depart from the policy traditions of classical economics?

  • Classical Theory and Keynesian theory.

    576885 Classical Theory and Keynesian theory. Why is it important for a policy maker to understand the difference between the Classical theory and Keynesian Theory of Economics?

  • The Two Branches of Macro-Economic Theory: Thinking Like a Macro-Economist

    Explain one real-world event that counters the theories of each of the following: Classical, New Classical, Keynesian, New Keynesian, and Monetarist. 3.

  • Impact of the war on a nation's economy.

    Remember to consider how the basic economic equation is manipulated by Keynesian economics: C + I + G + XN For the classical economist's point of view, remember the two basic theories of classical economics: Say's law and Price-wage flexibility.

View More Related Solutions