91影视

In the Keynesian framework, which of the following events might cause a recession? Which might cause

inflation? Sketch AD/AS diagrams to illustrate your answers.

a. A large increase in the price of the homes people own.

b. Rapid growth in the economy of a major trading partner.

c. The development of a major new technology offers profitable opportunities for business.

d. The interest rate rises.

e. The good imported from a major trading partner become much less expensive.

From a Keynesian point of view, which is more likely to cause a recession: aggregate demand or aggregate supply, and why?

Why do sticky wages and prices increase the impact of an economic downturn on unemployment and recession?

Explain what economists mean by 鈥渕enu costs.鈥�

What tradeoff does a Phillips curve show?

Would you expect to see long-run data trace out a stable downward-sloping Phillips curve?

What is the Keynesian prescription for recession? For inflation?

How did the Keynesian perspective address the economic market failure of the Great Depression?

In its recent report, The Conference Board鈥檚 Global Economic Outlook $2015$, updated November$2014$(http://www.conference-board.org/data/ globaloutlook.cfm), projects China鈥檚 growth between$2015$and $2019$ to be about $5.5\%$. International Business Times (http://www.ibtimes.com/us-exports-china-havegrown-$294$-over-past-decade-$1338693$) reports that China is the United States鈥� third largest export market, with exports to China growing $294\%$over the last ten years. Explain what impact China has on the U.S. economy.

What may happen if growth in China continues or contracts?