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<check out the concept:  labor value theory

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Directions:  Choose TWO Macroeconomic Theories to research and analyze.  Then, write a coherent essay wherein you compare and contrast the two theories you chose to research.  Be sure to identify the point you are trying to prove.  For example, prove that one of the systems you chose to research meets a country’s goal the best, answers the 3 essential questions best for the citizens, or business, etc.  Be sure to sustain your main idea in each paragraph you write.  
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• Follow the Social Studies Writing Rubric
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• Type: Size 12 font, Times News Roman, 3rd person voice OR Write in BLUE or BLACK ink
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• Only type or print on one side of a paper
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• Double space
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• 2 page minimum
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• Works Cited
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Macro Theories to choose from:
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Classical Theory:  Includes the Free Market.  Also known as “Laissez-faire”.  Economists who fall into this category include:  Adam Smith, F.A. Hayek
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Check out the concept:  Invisible Hand
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Aligns with the Broad Social Goal ~ Economic Freedom
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Marxist Theory:  Includes Command/Centrally Planned Economies (communism and socialism).  Economists who fall into this theory:  Karl Marx, Vladimir Lenin
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Check out the concept:  Labor Value Theory
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Aligns with the Broad Social Goal ~ Economic Equity
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Keynesian Theory:  Includes the Mixed Market Economy (U.S. and other industrialized democracies).  Economists:  John Maynard Keynes.
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Check out the concept:  Sticky vs Flexible wages
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Aligns with the Broad Social Goal ~ Economic Growth
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I am choosing to compare Classical theory to Keynesian theory and that Keynesian theory is better

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