Question 1: Explain how fiscal policy may possibly affect the short-run aggregate supply curve.
Question 2: How does classical economics explain its confidence in the ability of natural forces to return the economy to its potential level of real GDP?
Question 3: What were the reasons for establishing the Federal Reserve System as 12 Reserve banks rather than a single central bank in Washington?
Question 4: What is meant by the "independence" of the Fed? Is the Federal Reserve independent? Explain why or why not.