Keynesian Vs Monetarist on the LRAS curve

why these two schools of economic thought disagree on the shape of the LRAS curve - a disagreement borne out of their differing views on the ability of labour markets to clear during recssions.

Category:

Education

Tags:

• economics
• business
• keynes
• monetarist
• macro
• macroeconomics
• a-level
• level
• holden
• labour
• marketing
• management

[srubaiani]

if you were to live in the Roman ages, you would be one of the Roman lords, and they would call the lord of Macroeconomics (Macromeleus). Thanks a million. Exam is in two hours and I have never been that confident to sit an economics exam.

Cheers

P.S. the demand for you to teach in Auckland New Zealand is very high...

[pajholden]

@srubaiani I like the sound of that!

[thorpa01]

If I get an A in AS economics all credit goes to you and your videos. Thanks for existing.

Can I tag along with you and Ghandi on the pub crawl?

[pajholden]

@thorpa01 Don't thank me - thank my parents

[pajholden]

@thorpa01 Don't thank me - thank my parents

[dasharpest92]

Thank you so much!!!

[miskmiskm]

Paj, you make the best videos!!!!!! THANKS SO MUCH!!!!!!

[TheBlastBR]

i subscribed to you. This is so going to be useful for my IB exam in may!!!!

[motters2012]

if we go back to the same LRAS are we assuming that all those made unemployed, revise their wage and all decide to still take on jobs but at lower wages?

[motters2012]

you said that the labor market always clears thus full employment level of output is at any equilibrium (labor market diagram) really. So why in your second diagram involving the LRAS is there only one particular level of output that is the full employment level of output?

[Bhaveshagarwal89]

ur videos are really awesome.. i have got the confidence to read Macro economics.. thaanks to u sir.. Rock ONNN sir..

[carrotxdawg]

this was absolutely fantastic. if i could hug you i would. perhaps settle for an ehug?