At the height of the housing crisis in the US, in 2009-2010 the Government decided for a temporary extension of unemployment benefits to 99 weeks, from the standard six months.
a) What do you think of this decision? What are the positive and negative impacts of this decision to the society and the overall economy?
b) How would J.M. Keynes react to this extension?
c) How would a Classical Economist say about it?
Use as many economic principles (from the textbook and other sources) as you can in answering the questions.
As a guideline, each of the 10 points will be derived from the following:
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