Each of the following would have been found in a macroeconomics textbook in 1960 except

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In 1960, macroeconomics textbooks would not have included a full discussion of expectations. The focus on expectations and their role in economic decision-making became more prominent in macroeconomic theory and textbooks in later years, particularly with the development of the rational expectations revolution in the 1970s.

Each of the Following Would Have Been Found in a Macroeconomics