B1 Apply the AD/AS model to evaluate the proposition that discretionary increases in government purchases do not influence levels of economic activity in the long term.
B2 Apply the Phillips curve framework to evaluate the proposition of monetarists that increases in aggregate demand only affect unemployment rates in the short run during which inflationary expectations adjust adaptively.
B3 Apply the IS/MP framework to discuss the factors that might affect the short-term impact on real national income of an increase in autonomous expenditures.
B4 In discussing the determinants of consumer spending, evaluate the proposition that the financial system ensures that consumer spending and therefore national output fluctuate less than they otherwise would.
choose 2 of 4 questions above to write
1000 words each question(2000 total)
diagrams have to be included to explain each concept (explain the diagrams)
Intermediate Macroeconomics Year2 level
some referencing included as well