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Discussion Forum Unit 5

Discussion Forum Unit 5

Q One practical limitation with Keynesian economics is the challenge of implementing active economic policy quickly. One practical limitation of the Classical or Neoclassical model is that it suggests allowing the economy to self-correct in the long run, but recessions may last a very long time. For each challenge (limitation), discuss how severe you think these problems are? Explain, and provide an example. Discussion Requirements Your discussion should be at least 250 words in length, but not more than 500 words. Cite your work and provide references at the end. Once you’ve completed your initial post, be sure to respond to the posts of at least 3 of your classmates and rate their posts. Refer to the UoPeople APA Tutorials in the LRC for help in APA citations. Discussion Responses It is your responsibility to respond to three classmates by providing comments, asking questions, or having a conversation about their main post. Feedback should be appropriate, meaningful, and helpful. For instance, refer to how your own experience supports/contradicts the opinions developed by your peers. If you think they are too general or not rooted enough in personal experience, you may also ask for more detailed examples supporting these opinions. In particular, make sure that the examples provided are properly referenced and that you can access them. Overall, your comments should contribute positively to the conversation by broadening or clarifying it. Feedback should be at least 3-4 complete sentences (at least 100 words). Rating Discussions After posting an appropriate, meaningful, and helpful response to your three classmates, you must rate their posts on a scale of 0 (unsatisfactory) to 10 (excellent). The rating scores are anonymous; therefore, do NOT mention the separate rating score you will give the peer in your remarks. The instructor is the only person who knows which score matches the comment given to a peer. Some classmates may worry that some peers will not provide a fair rating, or be unable to provide accurate corrections for grammar or other errors. It is the instructor’s responsibility to ensure fairness and accuracy. 10 (A) - Excellent, substantial, relevant, insightful, enriching, and stimulating contribution to the discussion. Also, uses external resources to support position where required and/or applicable. 8 - 9 (B) - Good, quite substantial and insightful, but missing minor details which would have otherwise characterized it as an excellent response. 6 - 7 (C) - Satisfactory insight and relevance, but required some more information and effort to have warranted a better rating. 4 - 5 (D) - Limited insight and relevance of the material; more effort and reflection needed to have warranted a satisfactory grading. 0 - 3 (F) - Unsatisfactory insight/relevance or failure to answer the question, reflecting a poor or limited understanding of the subject matter and/or the guidelines of the question. Here are some questions to consider as we think about the feedback and rating to give our classmates: 1. Did the peer respond to everything asked by the assignment prompt? 2. Was the peer’s overall response organized and logical? Was it easy to follow and smooth? 3. Was it easy to understand the ideas the student was trying to communicate, or did you have to make assumptions to make sense out of what the peer wrote? 4. Did the peer use their own words, or if they borrowed from somewhere else, did they credit (cite) the source they used? 5. Were there consistent errors in grammar and punctuation that made it hard to understand or make sense out of the writing?

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It is believed by the Keynesian economists that the level of aggregate demand creates a deep impact on the Gross Domestic Product. Not only this, they believe that the prices and the wages remain to be sticky in the short run. This lies to be the main practical implication of the entire Keynesian framework. According to the Keynesian economics, when fiscal policy is to be implemented by the government then it might be needing a large amount of time to check the efforts for proper implementation of the fiscal policy. However, when there prevails rigidity of the wages and prices then it is expected that the entire process will not function in the right manner.