Can anyone give difficult questions about economics for a debate?

Question

The teacher assigned 4 schools of economics:
1. Classical/ Monetarist school
2. Keynesian school
3. Real Business Cycle (Neo Classical)
4. Mainstream theory (Neo-Keynesian)

I'm in classical team and I have to explain what my school does and after everyone explains, questions are asked. I need questions about the weakpoints of the other economic schools. So please list any questions that would throw off the other teams from 2 to 4. Thank You.

Answer 1

Keynesian
- Can we take productivity for granted, provided that employment and demand remain high?
(The classics had not taken productivity for granted. On the contrary, central to classical economics is the "law" of the diminishing return of all resources.)

Neoclassical
- If prices were flexible, was a cut in money wages the same as a cut in real wages?
(If a money wage was too high, competitive pressure would drive that wage down to the price where the employer would be able to hire again. If money wages were "sticky", an employer would not hire workers so that under those conditions, unemployment would be the "partial equilibrium", but the general price level would fall.)

- Is there really a difference between "fully anticipated" events and perfect certainty?
(The fundamental monetarist concept requires a "fully anticipated future" which means a future which can only be perfectly anticipated in any actual economy if all people hold the same expectations since otherwise some expectations are bound to be wrong.)

Neo-Keynesian
- Is underemployment equlibrium a recurring phenomenon in money-using production economies and therefore, the existence of underemployment equilibrium must be associated with the characteristics of money and related institutions, and with how production is organized?

Answer 2

For 2 use Milton Friedman argument on timing and the failure of the Phillips Curve in the 1970's
http://www.fff.org/freedom/1298b.asp
For 3 Ask what were the Real shocks that caused various economic down turns. Did 20% of work force get "lazy" in the 1930's.
For 4 Same as 2 and the Lucas argument on rational expectations. Question what is the natural rate of unemployment.

Answer 3

If too a lot leisure hurts Hugh, that's not an inferior sturdy, and that's not a sturdy in any respect - that's a foul. Inferior sturdy signifies that you're going to purchase a lot less of that sturdy at the same time as your earnings will strengthen, b/c you may have the funds for a more beneficial useful replace. yet because you used to purchase that sturdy, it earnings you. utilizing this to leisure is a trick question, b/c the earnings outcome is confounded by ability of the direct relationship between earnings and leisure. oftentimes, exertions grant bends backward as human beings start up operating a lot less once they hit particular aspect of earnings. you may exercising consultation some thing else of it your self - it is your classification in spite of everything. And bypass straightforward on Anjaree - she is a sophomore with like 3 econ classes on the syllabus.