MacroeconomicsThe real-world applications, examples and theories cited in this textbook on Macroeconomics place economic issues in an international context. |
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acceleration actual real GDP aggregate demand assets assumed autonomous planned spending billion bottom frame business cycles capital cause Chapter consumer consumption cost countries decline deflator demand curve demand for money dollar economy effect equation equilibrium expenditures exports federal fiscal policy fixed fixed exchange rates frame of Figure GDP deflator government budget deficit government spending growth rate higher increase inflation rate investment IS-LM model Keynesian labor large open economy level of real LM curve long-run macroeconomics ment monetary policy money supply multiplier national saving natural rate natural real GDP nominal GDP growth nominal interest rate output ratio payments percent period Phillips curve price level productivity growth raise rate of unemployment real income real interest rate real money supply real output real wage recession reduce saving rate SELF-TEST shift short-run SP curve supply shocks tax rates theory tion top frame unem unemployment rate United workers zero