Macroeconomics, theories and policies
This book traces the history of macroeconomics, the evolution of macroeconomic thought, and the resulting theory and policy. The book places the various macroeconomic theories in the order in which they developed chronologically, and illustrates the similarities and differences of the models. Starting with classical economics and the Keynesian revolution, this book explores the macroeconomic theory after Keynes, open economy macroeconomics, economic policy, and sectoral functions. Financial officers and professionals making pecuniary decisions and analyses.
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MONEY INTEREST AND INCOME
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aggregate demand aggregate demand curve aggregate supply aggregate supply curve analysis assets assumed assumption balance of payments bank bonds budget capital changes Chapter classical economists classical system consider consumption function cost decline deficit demand deposits demand for money determined dollar economic activity effect equal equilibrium income example expansionary expected factors Federal Reserve Figure fiscal policy actions fixed exchange rate foreign exchange given government spending incomes policies increase in government inflation rate interest elasticity interest rate investment demand IS-LM Keynes Keynes's Keynesian model labor supply level of income LM curve LM schedule macroeconomic ment monetarism monetarist monetary policy money demand function money growth money market money wage national income natural rate neo-Keynesian output and employment percent period Phillips curve policymaker price level quantity of money rational expectations real wage result rise saving short run slope stabilization supply curve supply schedule supply shock tax rate tion variables