Order Description

 

 

select ONE (1) of the three questions;

 

1.Discuss the theoretical debates regarding the trade-off known as the Phillips curve and its use as a tool to operationalize monetary policy.

2.Contrast the determination of the equilibrium of employment in the neo-Keynesian and new Keynesian frameworks. Compare the frameworks’ fiscal and monetary policy recommendations for achieving and maintaining full employment.

3.Discuss how a variation of the surplus approach has been used to complement Keynes’ determination of output in The General Theory. Discuss how the addition clarifies the effectiveness of fiscal and monetary policies for managing the economy.