Explain the difference between macroeconomics and microeconomics. How does the PPF highlight the concepts of scarcity, choice, and opportunity cost? How do the concepts of opportunity cost and trade-offs directly impact our economic decisions...
How do the concepts of supply and demand relate to microeconomics and macroeconomics? How do fiscal and monetary policies affect aggregate demand in the South America? What is meant by the economy's aggregate demand curve (AD)? Explain the effect of an expansionary f...
Neoclassical and Orthodox theories of Macroeconomics Over the course of the Modern and Postmodern ages various schools of Economic thought have ascended and diminished in popularity among scholars. Invariably these schools of economics all fall victim to the limitations of their own vMeme lens. Though ...
The theory and the facts of how markets clear: Is industrial organization valuable for understanding macroeconomics? 6. SummaryThis chapter has presented a survey of what industrial economists know about how markets clear. The evidence on price behavior is sufficiently inconsistent with the simple ...
(Of course, this does not prove causality, but as there is no way of doing controlled experiments in macroeconomics it is always impossible to prove causality, all these events do is show some relationship between the macroeconomics of the Chicago school and empirical fact, and also disprove ...