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C. You answer the following questions by showing a graph or illustration using the AS-AD framework. 1. (5 points). Using the supply side economics. What
C. You answer the following questions by showing a graph or illustration using the AS-AD framework. 1. (5 points). Using the supply side economics. What will happen to the aggregate supply and demand, if the goverment supports technological progress in the economy? Explain your answer by showing an illustration using the AS-AD framework. 2. (5 points). Is expansionary monetary policy effective in Keynesian case? Explain your answer by showing an illustration using the AS-AD framework. 3. (5 points). Is expansionary monetary effective in Classical case? Explain your answer by showing an illustration using the AS-AD framework. 4. (5 points). Is expansionary fiscal policy effective in Keynesian case? Does the crowding effect occur? Explain your answer by showing an illustration using the AS-AD framework. 5. (5 points). Is the expansionary fiscal policy effective in Classical case? Does the crowding effect occur? Explain your answer by showing an illustration using the AS-AD framework
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