1. a) When the Fed lowers interest rates, what is the impact onthe value of the dollar, exports, imports, consumption, investment,and the AD curve?
b) When the Fed raises interest rates, what is the impact on thevalue of the dollar, exports, imports, consumption, investment, andthe AD curve?
2.Explain the differences between classical economists andKeynesians in regards to monetary policy during a recession.
3. Explain efficiency-wage theory.
