TheBusinessProfessor
  • Home
  • Academy
  • SearchBase
  • Membership
    • Account
Select Page

Neoclassical Phillips Curve Tradeoff

by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy

What is the Neoclassical Phillips Curve Tradeoff? The short run upward sloping aggregate supply curve implies a downward sloping Phillips curve; thus, there is a tradeoff between inflation and unemployment in the short run. By contrast, a neoclassical long-run...

Neoclassical View of Unemployment

by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy

What is the Neoclassical View of Unemployment? Economists divide unemployment into two categories: cyclical unemployment and the natural rate of unemployment, which is the sum of frictional and structural unemployment. Cyclical unemployment results from fluctuations...

Neoclassical View of Recessions

by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy

What is the Neoclassical View of Recessions? Neoclassical economists believe that the economy will rebound out of a recession or eventually contract during an expansion because prices and wage rates are flexible and will adjust either upward or downward to restore the...

Keynesian vs Neoclassical Macroeconomic Policy Recommendations

by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy

What are Keynesian vs Neoclassical Macroeconomic Policy Recommendations? Let’s summarize what neoclassical economists recommend for macroeconomic policy. Neoclassical economists do not believe in “fine tuning” the economy. They believe that a stable economic...

Government Spending – Explained

by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy

What is Government Spending? Government spending covers a range of services that the federal, state, and local governments provide. What is a Budget Deficit and Surplus? When the federal government spends more money than it receives in taxes in a given year, it runs a...
« Older Entries
Next Entries »

Designed by Elegant Themes | Powered by WordPress