As the graph below shows, the 1970s stand out as a period in which the U.S. had poor price level stability despite having a central bank, an advanced industrial economy, and educated policymakers. Therefore, understanding why this period
Perhaps John Maynard Keynes’ most lasting, important, and influential contribution to economic thought was his rejection of the assertion by classical economists that the economy was always self-regulating and that capitalism was characterized by an inherent stability that
Since the recent global recession, concerns have increasingly risen about the amount of outstanding U.S. national debt. Congress has been consumed by conflict over this issue, leading to government shutdown and contributing to partisan divide and political gridlock.
Why Has the U.S. Not Seen Rising Inflation Resulting from Increases in the Money Supply in the Post-2008 World? In order to counteract the contractionary pressures stemming from the events in 2007-2008, the Federal Reserve conducted expansionary monetary policy
Engel Curve Assignment For this assignment I was interested in how aggregate food expenditures fluctuated with aggregate disposable income. I obtained annual aggregate food expenditure information, in 1988 dollars, dating from 1953-2014 from the website of the United States Department