Question I.

What "prescriptions" for an ailing economy might the Keynesians and Classical economists prescribe? How do their respective policies result in full employment equilibrium?

Question II.

Describe the law of supply and the "slope" of the "aggregate supply" curve (i.e. what effects give the AS curve its unique slope...).

Question III.

Scenario: Minimum wages have risen. What are the effects on small businesses?Who proposes such policies and for what societal purposes?

Question IV.

Explain the purpose of rent controls and how shortages brought about by such controls might lead to an affordable housing crisis.