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15 Cards in this Set
- Front
- Back
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1.What do economists mean by the “mainstream view”?
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2.Explain the monetarist view of economics.
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3.Explain the concepts behind the equation of exchange.
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4.What effect does velocity have on economic stability?
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5.Explain the real-business-cycle view.
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6.What are coordination failures?
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7.Explain the rational expectations theory.
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8.Explain the adaptive expectations theory.
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9.What are the effects on output if there are unanticipated or anticipated price changes?
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10.Describe the efficiency wage theory
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11.What are the basic premises of the insider-outsider theory?
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12.What is the rationale for a “monetary rule”?
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13.Identify the arguments (pro and con) for discretionary monetary policy and discretionary fiscal policy.
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14.Cite examples of how discretionary economic policies have increased macro stability in the U.S. over the past 20 years.
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15.THE LAST WORD: What is the Taylor Rule? How is it different from previous economic stabilization theories?
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