Possible essay questions for Janus’ classes for Friday’s quiz

By Anonymous -
1. Explain the Quantity Theory of Money. What assumptions does it make? Are they accurate? How is it different than the Institutional Theory of Money or the Insider/Outsider Theory?

2. Explain the History of the Second Amendment as outlined in the Judge Steven’s article. 

3. Please explain the different types of inflation. What has the history of inflation been like?

4. Why has the target or natural rate of unemployment changed over time?

5. What is Okum’s rule of thumb? When it was applied to the Great Recession, did economists get it right? If not, why not?

6. What is the difference between the Sound Finance Theory and the Functional Finance Theory? What assumptions did believers in Functional Finance make that proved not to be accurate? 

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