Did Keynes agreed fully with his colleague John Hicks' interpretation of his IS-LM model?
Did Keynes agreed fully with his colleague John Hicks' interpretation of his IS-LM model?
Homework Answers
In 1937, John Hicks, British economist first introduced the IS-LM model, just one year after his fellow John Maryard Keynes, British economist, published his book - The General Theory of Employment, Interest, and Money. IS-LM model served as a graphical formalized representation of theories of Keynes, though it is mainly used today as a heuristic device. Keynes not fully agreed with Hicks' interpretation of his IS-LM model. He has objection to the IS-LM model for its unrealistic and simplistic assumptions about the macro economy. The time-lags that are significant in examining the effects of economic policy changes are ignored.
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Did Keynes agreed fully with his colleague John Hicks'
interpretation of his IS-LM model?
27. The Hicks version of the IS/LM that has been presented has been referee to a. the definitive Keynesian model b. the bastardized Keynesian model c. unrealistically simplified d. irrelevant to the...
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accountant. His first advice was for the business to develop a
budget. Since Mary did not complete Accounting II, she was not
aware of the various costing systems that exist in businesses. Her
accounting professor told Mary of the three types of costing
systems that exist in organizations – job order, process costing
and, activity based costing.
Required: Which type of
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27. The Hicks version of the IS/LM that has been presented has been referee to a. the definitive Keynesian model b. the bastardized Keynesian model c. unrealistically simplified d. irrelevant to the structure of modern economies as, 28. One advantage of monetary policy is a. crowding out b. centralized power of moneyed interests c. monopoly of the money supply d. immediate and precise 29. Keynes' famous statement that "in the long run we are all dead" expresses which of the...
QUESTION 9 John Maynard Keynes viewed limits on imports as sometimes justifiable. favored interationalist policies at Bretton Woods because of his commitment to free trade. did not accept a large extension of the traditional functions of government. was accepting of the forceful nationalism of the interwar years.
John Asiedu agreed to You are required to: cisehoborrowed GHC 10,000 from his bank at interest rate of 18% and 6. 1 ay equal installments over five years. De termine the size of the payments an amortization schedule for the loan. b) Set up amort Solution A PMT A-GHe10.000 3.127 A GHe3,197.95 a) Amortization Schedule
Consult exhibit 2 then, answers the following questions: 1/ Using the IS-LM model, how does the spending hypothesis explain the great depression 2 2/ When relying on the IS-LM model, economists often reach the conclusion that the "Money hypothesis" is not so relevant to explain the great depression. Explain why. Exhibit 2: TABLE 11-2 What Happened During the Great Depression? Consumption Unemployment Rate (1) Real GNP 23 1930 2036 1835 1695 144.2 141.5 1396 130.4 126.1 1931 1932 1933 1934...
According to Bettelheim, Freud purposely did not correct English translations of his work because: Select one: 0 a. he thought Americans were too unsophisticated to fully appreciate his ideas 0 b. he was confident his ideas would be understood correctly after his de O c. all of these choices are correct O d. he opposed the U.S. medical establishment's intent to medicalize psychoanalysis Among men, fixations that develop during the phallic stage may result in: Select one: O a. fathering...
Mary discussed the business pan with
her accounting professor who agreed to serve as her part time
accountant. His first advice was for the business to develop a
budget. Since Mary did not complete Accounting II, she was not
aware of the various costing systems that exist in businesses. Her
accounting professor told Mary of the three types of costing
systems that exist in organizations – job order, process costing
and, activity based costing.
Required: Which type of
costing system...
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