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ECONOMIC DECISION MAKING
Technology and Machinery Will Destroy Workers
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aggregate spending amount average total cost borrowing budget buyers cause Chapter checkable deposits circular flow commercial banks consumer corporation debt decision decrease deficit demand curve demand deposits demand-pull inflation depository institutions dollars earn economic activity equilibrium price example excess reserves exports factors of production Federal Reserve Bank Figure financial institutions firm fiscal policy full employment graph important individual industry injections interest rate labor force leakages level of economic level of output loans long-run average total macroeconomic marginal benefit marginal cost marginal revenue maximize ment million monetary policy money GNP money supply nonprice occurs operation percent percentage person Phillips curve points price index problem producer price index profit purchase purely competitive quantity demanded quantity supplied real GNP relationship reserve requirement sector sell sellers spending stream supply curve Table total spending trade transfer payments trillion types U.S. economy U.S. Government Printing variable wage workers