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econ205jan31 - No Government Interference Key Policy...

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ECON 205 January 31, 2008 Economical School of Thoughts <- Classical -> Adam Smith 1776 Wealth of Nations <- Keynesion Classical assumptions - Flexible Prices, FLexible wages -> Full Employment Policy Conclusions
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Unformatted text preview: - No Government Interference Key Policy Conclusions- government intervention The real economy Y-T = Yd Yd = C + s I = S + (T-G) - (x-m) s= private saving, (t-g) = public saving (x-m) = trade...
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