Macroeconomics: Principles and PolicySince introducing the aggregate supply/aggregate demand model as a fundamental tool for learning economics in the first edition of their textbook, William Baumol and Alan Blinder have, for over two decades, led the teaching and learning of economics with their authoritative and timely discussion of the field. Now in its eighth edition, Macroeconomics: Principles and Policy remains a time-tested tool in teaching and learning the ever-evolving field of economics. |
Contents
Inside the Economists Tool Kit | 8 |
Imperfect Information and Value Judgments | 14 |
MYTH AND REALITY | 25 |
Copyright | |
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aggregate demand curve aggregate supply curve American assets balance bank billions of dollars budget deficit C+I+G+ capital cents chapter consumer spending consumption function countries currency debt deposits diagram disposable income economists economy's effect equilibrium GDP equilibrium level equilibrium price example excess reserves exchange rates expansionary expenditure schedule exports fall Federal Reserve Figure firms fiscal policy foreign full employment graph gross domestic product growth higher important increase industry inflation rate inflationary gap interest rates investment spending Japan labor lower macroeconomic ment monetary policy money supply multiplier nomic nominal GDP opportunity cost output payments percent Phillips curve potential GDP price level production possibilities frontier quantity demanded quantity supplied raise real GDP recession recessionary gap reduce rise shows slope stabilization policy stagflation supply and demand supply-side Table tax cuts tion trade U.S. dollars U.S. economy U.S. government unem United variable workers