MacroeconomicsAddison-Wesley Publishing Company, 1994 - 598 ˹éÒ |
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˹éÒ 434
... fixed rule stabilizes aggregate demand more effectively than a feedback rule . These economists assert that fixed rules are better than feedback rules because : Full - employment real GDP is not known . Policy lags are longer than the ...
... fixed rule stabilizes aggregate demand more effectively than a feedback rule . These economists assert that fixed rules are better than feedback rules because : Full - employment real GDP is not known . Policy lags are longer than the ...
˹éÒ 436
... fixed rules in controlling aggregate demand . The evolution of views about aggregate demand stimulation is fea- tured in Our Advancing Knowledge on pp . 438-439 . But there is a fourth reason why fixed rules are preferred by some ...
... fixed rules in controlling aggregate demand . The evolution of views about aggregate demand stimulation is fea- tured in Our Advancing Knowledge on pp . 438-439 . But there is a fourth reason why fixed rules are preferred by some ...
˹éÒ 445
... fixed - rule policy and a feedback - rule policy . 15 Analyze the effects of a temporary decrease in aggregate demand if a fixed rule is employed . 6 Analyze the behavior of real GDP and the price level in the face of a permanent ...
... fixed - rule policy and a feedback - rule policy . 15 Analyze the effects of a temporary decrease in aggregate demand if a fixed rule is employed . 6 Analyze the behavior of real GDP and the price level in the face of a permanent ...
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$1 trillion aggre aggregate demand curve aggregate expenditure aggregate planned expenditure aggregate supply curve amount autonomous expenditure banks billion hours business cycle capital CHAPTER consume consumption expenditure curve for real decrease deficit deposits dollars economists equal equilibrium expenditure example exports factors factors of production fall Federal Reserve Figure firms fiscal policy fluctuations forecast GDP deflator government purchases graph growth higher households labor curve labor force labor market long-run aggregate supply macroeconomic ment million tapes monetary policy money multiplier money supply money wage rate multiplier natural rate OPEC open market operation opportunity cost output Phillips curve price level production possibility frontier quantity demanded quantity of labor quantity of money quantity of real quantity supplied rational expectations Real GDP trillions real wage rate recession relationship rises short-run aggregate supply slope tapes a week taxes tion trillions of 1987 U.S. economy unem unemployment rate