Chapter_6 - Warning: The purpose of these lecture notes is...

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Warning: The purpose of these lecture notes is just to aid you in studying, and they are not designed to replace the textbook or the lectures. Technical problems with the web site do not absolve you of responsibility for lecture material. If you choose to skip a lecture and rely on the web site lecture notes, you do so at your own risk. For tests and exams you are responsible for all material covered in lecture, including material on the chalkboard and overhead projector. If you missed a lecture, be sure to get the complete lecture notes from another student . Chapter Six Output, Aggregate Expenditure, and Aggregate Demand Learning Outcomes This chapter explains Aggregate demand and output in the short run The consumption, saving, and investment functions Aggregate expenditure and equilibrium output in the short run The multiplier How the marginal propensity to consume affects the multiplier The paradox of thrift Equilibrium output and aggregate demand Aggregate Demand and Output in the short Run Assumptions All prices and wages are fixed at a given level At these prices and wages, there are workers without a job who would like to
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Chapter_6 - Warning: The purpose of these lecture notes is...

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