MacroeconomicsAddison-Wesley Publishing Company, 1994 - 598 ˹éÒ |
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... Substitution Effect The substitution of goods and services now for goods and services later or of goods and services later for goods and services now is called intertemporal substitution . An example of intertemporal substitution is ...
... Substitution Effect The substitution of goods and services now for goods and services later or of goods and services later for goods and services now is called intertemporal substitution . An example of intertemporal substitution is ...
˹éÒ 161
... substitution is the decision by the British government to equip its armed forces with U.S. - produced weapons rather than weapons made in Great Britain . Yet another example is your decision to take a skiing vacation in the Canadian ...
... substitution is the decision by the British government to equip its armed forces with U.S. - produced weapons rather than weapons made in Great Britain . Yet another example is your decision to take a skiing vacation in the Canadian ...
˹éÒ 238
... substitution effect • International substitution effect A rise in the price level , other things held con- stant , decreases the real money supply . A lower real money supply decreases aggregate planned expendi- ture - the real money ...
... substitution effect • International substitution effect A rise in the price level , other things held con- stant , decreases the real money supply . A lower real money supply decreases aggregate planned expendi- ture - the real money ...
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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