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In your opinion, which of the following two federal government policies will work better to maintain living standards given the current high inflation in the
In your opinion, which of the following two federal government policies will work better to maintain living standards given the current high inflation in the U.S.?
(1) Giving a one-time $3,000 federal check to every household or
(2) Raising the minimum hourly wage to $15/hour?
Please state your answer in the language of economics andindicate which macroeconomic model (classical, Keynesian, monetarist, or rational expectation) to support your answer.
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