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Would it be plausible to claim that the theory of rational expectations is a distorted form of neoclassical economics? Explain.
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- Would it make sense to argue that rational expectations economics is an extreme version of neoclassicaleconomics? Explain.Does neoclassical economics focus on the long term or the short term? Explain your answer.Given that the Mundell-Fleming model is one of the innovations of neoclassical economics, do the policy recommendations remain timely and relevant?
- In neoclassical economics, if there is unemployment, it means that:Given that the Mundell-Fleming model is one of the innovations of neoclassical economics (covering the immediate decades after the Second World War), do the policy recommendations remain timely and relevant?Why would neoclassical economists think that the government doesn't need to take many steps to combat unemployment? Whether you concur or disagree Explain.
- According to neoclassical theory, compensating consumers for inflation as measured by a base year weighted index can overcompensate them because: A some goods may be inferior B relative prices may not have changed C some goods may give disutility D goods are substitutable in consumer preferencesDefine the neoclassical economic theory. List and explain it's main assumptions.Explain what is meant by ‘macroeconomics’ and why some economists think that it is different to standard neoclassical economics. explain with graphs please.