Explain the viewpoints of classical economists. According to you which model - classical or Keynesian is most authentic and appealing.
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Compare and contrast classical economics and Keynesian economics. What are the major characteristics of classical economics and of Keynesian economics? Which model between the classical model and the Keynesian model would you prefer? Why?
Classical economists believed in Say's Law -- supply creates its own demand. On the other hand, Keynesians do not believe supply creates its own demand.
Why don't Keynesians believe supply creates its own demand?
If your workplace produced a supply of their products/services, would this supply create its own demand? Why or why not? Please use specific real-world examples.
What remedies would Classical economists propose for ending a recession?
What remedies would Keynesian economists propose for ending a recession?
Also, explain why Classical and Keynesian theory differs regarding the remedies for recessions
Thinking of the Classical and/or Keynesian macroeconomic models, the Obama administration's economists requested Congress to approve the stimulus package. Why?