Write a short (2-3 page, typed, double-spaced) essay. Conduct a thorough analysis of both the classical economic model and the Keynesian economic model. Describe the impact on the aggregate demand and supply curves, along with the impact on inflation and unemployment. Remember to cite your research and not to plagiarize.
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Write My Essay For MeAnalysis of Classical and Keynesian Economic Model
An economic model refers to a simplified representation of the real situation, capturing important economic relations and patterns. In economics, two major economic models are used to analyze and make projection of economic status of a country or region. The two theories include the classical economic theory and the Keynesian economic theory.
Classical Theory
Alfred Marshall among other scholars advocated for the classical economic model. The theory assumes the following:
• Free market with no government interference…
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