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Government Debt and Budget Deficits16In this chapter, you will learn:about the size of the US government’s debt, and how itpares to that of other countriesproblems measuring the budget deficitthe
Investment18In this chapter, you will learn:leading theories to explain each type of investmentwhy investment is negatively related to the interest ratethings that shift the investment functionwhy inv
Stabilization Policy15In this chapter, you will learn:…about two policy debates:1Should policy be active or passive2Should policy be by rule or discretionQuestion 1:Should policy be active or passiveG
Aggregate Supply and the Short-run Tradeoff Between Inflation and Unemployment13In this chapter, you will learn:two models of aggregate supply in which output depends positively on the price level in
Aggregate Demand I:Building the IS-LM Model10In this chapter, you will learn:the IScurve, and its relation to:the Keynesian crossthe loanable funds modelthe LMcurve, and its relation to:the theory of
Unemployment6In this chapter, you will learn:…about the natural rate of unemployment:what it meanswhat causes itunderstanding its behavior in the real worldNatural rate of unemploymentNatural rate of
Money Supply, Money Demand, and the Banking System19In this chapter, you will learn:how the banking system “creates” moneythree ways the Fed can control the money supply, and why the Fed can’t control
Consumption17In this chapter, you will learn:an introduction to the most prominent work on consumption, including:John Maynard Keynes:consumption and current ieIrving Fisher:intertemporal choiceFr
Aggregate Demand II:Applying the IS-LM Model11ContextChapter 9 introduced the model of aggregate demand and supplyChapter 10 developed the IS-LM model, the basis of the aggregate demandthis chapter,
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