3. Compare the sources of unemployment in the classical (pre-Keynesian) framework and in Keynes’ theory of effective demand. What types of unemployment have been associated with the pandemic? How have governments supported their labour markets?

Please selection one of the following questions.
How are features of the recessions caused by the pandemic different from how recessions are explained by the classical (pre-Keynesian) framework? Are there similarities? In your opinion have governments behaved in a way which is consistent with this approach?
How are features of the recessions caused by the pandemic similar to how recessions are explained by Keynes’ theory of effective demand? Are there differences? In your opinion have governments behaved in a way which is consistent with this approach?
Compare the sources of unemployment in the classical (pre-Keynesian) framework and in Keynes’ theory of effective demand. What types of unemployment have been associated with the pandemic? How have governments supported their labour markets?

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