Rational vs Adaptive Expectations. How are they both different from the assumption we have used up to this point? What are the policy implications of one versus the other?

If most people have rational expectations, how long will recessions last? Explain using your  beliefs and experiences coupled

Which perspective is better suited to handling the recession that was caused by the pandemic? Keynesian or Neoclassical? Explain why.

Discuss what the long-run Phillips curve looks like in the neoclassical perspective, and why the trade-off between inflation and unemployment disappears.  From this perspective, what is the best government policy response to favorable economic conditions in the long run?

Which of the following is most likely to advocate the use of fine tuning?   Supply-siders Classical economists Keynesians Monetarists, Chicago School economists Austrian School economists

During the 18th century classical was the mainstream school of economics. True or False

Please help me answer this question

Match the statement to whether it describes rational expectations or adaptive expectations: A. Decisions are relatively slow to respond to new information about the economy B. If people expect it to rain a lot next month, they will start buying umbrellas today to take advantage of the relatively lower prices 1. Rational expectations 2. Adaptive expectations

Because neoclassical economists assume that people are rational decision makers, they Multiple Choice are able to make better predictions about economic behaviors and outcomes. ignore the mental processes by which these decisions are made. believe that people never make suboptimal decisions. believe it is best to limit the number of options people have available.

What is meant by the term neoclassical counterrevolution? What are its principal arguments, and how valid do you think they are?