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Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884 Exercise 8
Explaining Macroeconomic Trends and Fluctuations
Use the following information to work Problem.
The following events have occurred at times in the history of the United States:
The world economy goes into an expansion.
U.S. businesses expect future profits to rise.
The government increases its expenditure on goods and services in a time of war or increased international tension.
Explain the separate effects of each event on U.S. real GDP and the price level, starting from a position of long-run equilibrium.
Use the following information to work Problem.
The following events have occurred at times in the history of the United States:
The world economy goes into an expansion.
U.S. businesses expect future profits to rise.
The government increases its expenditure on goods and services in a time of war or increased international tension.
Explain the separate effects of each event on U.S. real GDP and the price level, starting from a position of long-run equilibrium.
Explanation
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The market forces tend to change the agg...
Macroeconomics 11th Edition by Michael Parkin
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