Hi There please may you assist me with a concluding remark that could
be made about the consensus on macroeconomics main agreement points.
the 6 points are:
The first area of consensus is in Keynesian economics: there is a consensus that there are significant effects on shifts in the supply curve and demand curve in the short run. it is also commonly agreed that SRAS is upward sloping, not vertical. Following from the first consensus there is area two, economic macroeconomics: it is agreed that long term effects are important. The third consensus is in the area of Monetarism: it is agreed that the steady growth of the money supply will lead to a steady increase in the GDP, and it is supported by the Quantitative theory of money (MV=PQ). The fourth are of agreement in macroeconomics is related to inflation and unemployment: it is agreed that macroeconomic policies can be used to maintain full employment in the long run. Inflation will continue growing even during the unemployment seasons. The fifth area of agreement is that Governments should distance themselves from trying to adjust and tune the economy to ensure that employment and output are at maximum levels. A government should practice limiting discretionary fiscal policy for automatic stabilizers to take over. The final consensus in macroeconomics carries on with stabilizers where economists agree that the once thought control- theory problem of stabilizers is now accepted to be a game-theoretic problem. Meaning that the importance behind establishing a creditable policy regime adopted by the economies authorities will help reduce the short run costs (employment/ output).
please assist with any concluding remarks, i am having trouble concluding this work, the above is an introduction and i have gone into depth on each topic, im just struggling with a conclusion.
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