Macroeconomics
Macroeconomics
10th Edition
ISBN: 9781319105990
Author: Mankiw, N. Gregory.
Publisher: Worth Publishers,
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Chapter 16, Problem 3QR
To determine

Explain the Lucas critique.

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Is the rational actor model the best way to understand foreign policy decision-making? Define the model, indicate why it is used, and define any other relevant concepts. Raise an objection to the model. Reply to your objection, or raise a second objection. In your answer, be sure to define “rationality” and discuss important (and relevant) concepts as they relate to the Russian decision to invade Ukraine. Approximately 500- 700 words.
Briefly suggest Fiscal Policy or Monetary Policy Measures or Mix of Both to minimize the effects of this pandemic(covid-19) situation
“Dependency Theory belongs to a school of thinking that is not isolated from world events but took shape immediately after Latin American disappointment that the commercial benefits guaranteed by neoclassical theory failed to eventuate. Todaro (2000, p. 91) believed that, according to international dependence patterns, Third World countries are basically under the rule of the politics, institutions, and the economy of the developed countries themselves or of other countries of the world that are controlled by dominant wealthy countries” – critically explain how and why dependency theory emerged and also explain the importance of world system theory in the field of international and strategic relations?
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