MacroeconomicsAddison-Wesley Publishing Company, 1994 - 598 ˹éÒ |
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... real GDP below trend . The real GDP fluctu- ations describe the course of the business cycle . -40 1869 1889 1909 1929 1949 1969 1989 Year GROSS DOMESTIC PRODUCT this upward movement has a powerful effect 116 The Importance of Real GDP.
... real GDP below trend . The real GDP fluctu- ations describe the course of the business cycle . -40 1869 1889 1909 1929 1949 1969 1989 Year GROSS DOMESTIC PRODUCT this upward movement has a powerful effect 116 The Importance of Real GDP.
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Michael Parkin. diture equals real GDP . At levels of real GDP below equilibrium , planned expenditure exceeds real GDP ; at levels of real GDP above equilibrium , planned expenditure falls short of real GDP . To see how equilibrium ...
Michael Parkin. diture equals real GDP . At levels of real GDP below equilibrium , planned expenditure exceeds real GDP ; at levels of real GDP above equilibrium , planned expenditure falls short of real GDP . To see how equilibrium ...
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... real GDP Real GDP exceeds expenditure 45 ° line Aggregate planned Real GDP ( n expenditure ( AE ) ( trillions of 1987 dollars ) Unplanned inventory changes ( Y - AE ) ΑΕ a 1.0 2.5 -1.5 b 2.0 3.0 -1.0 Equilibrium expenditure C 3.0 3.5 ...
... real GDP Real GDP exceeds expenditure 45 ° line Aggregate planned Real GDP ( n expenditure ( AE ) ( trillions of 1987 dollars ) Unplanned inventory changes ( Y - AE ) ΑΕ a 1.0 2.5 -1.5 b 2.0 3.0 -1.0 Equilibrium expenditure C 3.0 3.5 ...
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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