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contrasting the basic assumptions underlying the Classical macroeconomic model and the Keynesian macroeconomic model, and describe each of them in terms of whether they are
contrasting the basic assumptions underlying the Classical macroeconomic model and the Keynesian macroeconomic model, and describe each of them in terms of whether they are dynamic/static, stable. unstable, wholistic/narrow, etc. Specifically, address the following questions:
1. Which of the two models is better "grounded"?
2. Which is more useful for explaining how an economy works?
3. How might the dialectic approach contribute to improving our understanding of the macroeconomy?
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