ec102

ec102 - 1/16/09 16/01/2009 11:08:00 GDP= gross domestic...

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1/16/09  16/01/2009 11:08:00 GDP= gross domestic product Why learn macro?  Social problems like homelessness, unemployment.  Macroeconomy affects your well being. The Long Run -Issues related to economic growth . Economic growth is all about the long run.  Looking at Decades. More important than  short run because economic growth in the  long run is responsible for a person’s well-being The short run - all about Business Cycle Fluctuations . We are now in the low point of the  business cycle. The cycle booms and drops. Not predictable but a fact of economic life. Aggregate demand-  demand throughout the economy for ALL goods and  services. Major part of what the short run of economy is about.
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ec102 - 1/16/09 16/01/2009 11:08:00 GDP= gross domestic...

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