Which of the following statements best represents the relationship between Keynesian and Neoclassical perspectives? OKeynesian and neoclassical perspectives both focus on long-run growth Okeynesian ideas work best in the short-run and neoclassical ideas work best in the long-run Okeynesian ideas work best in the long-run and neoclassical ideas work best in the short-run Okeynesian ideas focus on the natural rate of unemployment, while neoclassical ideas focus on cyclical unemployment

new keynesian models assume that the business cycle fluctuations are driven by the aggregate demand components  true or false

What is the Keynesian and Neoclassical models.

In the AS/AD model, what are the main differences between the neoclassical perspective and the Keynesian perspective?

What are the principal differences between the Neoclassical and Keynesian approaches with examples

Which of the following is consistent with the neoclassical theory of the labour?   Question 27 options:   Workers are compensated according to their contribution to the social value of society.   Workers earn a wage equal to the value they contribute to the economy.   Wages are determined entirely by market supply.   Wages are determined entirely by market demand.

Which of the following is a TRUE statement in the neoclassical model of AD/AS? Because wages are flexible, they are unaffected by high rates of unemployment. The economy cannot sustain production above its potential GDP in the long run. O A surge in aggregate demand ends up as a rise in output, but does not increase price levels. Lower wages will cause an economy-wide increase in the price of a key input.

the August unemployment figures for Australia were surprisingly better than predicted (did not continue to increase) given the collapse that occurred in the economy due to COVID closures. (a) Use the static AD-AS model to explain the short run impact of the COVID closures on the economy and discuss the implications this has for unemployment.  b) Comment on the limitations of the static AD-AS model in analysing the situation under COVID.

Analyse Australia's economy in 2023 using the Mundell Fleming model and derive and draw the aggregate demand curve using the Mundell Fleming model and the aggregate supply curve using the neoclassical model of aggregate supply.

Do you believe that the Hayek’s classical AD-AS model explain the factors that cause changes (shifts) in AS realistically? Why or why not?