Economics (McConnell) AP Edition, 19th EditionChapter 36:
Current Issues in Macro Theory and PolicyThe content of this chapter may be included on the AP* Macroeconomics exam. After reading this chapter, you should be able to: - Describe alternative perspectives on the causes of macroeconomic instability, including the views of mainstream economists, monetarists, real-business-cycle advocates, and proponents of coordination failures.
- Explain what the equation of exchange is and how it relates to "monetarism."
- Discuss why new classical economists believe the economy will "self-correct" from aggregate demand and aggregate supply shocks.
- Identify and describe the variations of the debate over "rules" versus "discretion" in conducting stabilization policy.
AP Chapter 36 Introduction
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