Unit 3 - Chapter 11

Unit 3 - Chapter 11 - Macroeconomics Chapter 11 Output and...

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Macroeconomics Chapter 11 Output and Expenditure in the Short Run
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John Maynard Keynes John Maynard Keynes 1883 - 1946 If economists could manage to get  themselves thought of as humble,  competent people on a level with  dentists, that would be splendid.  "The Future" Ch. 5, Essays in  Persuasion (1931)
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Run Aggregate expenditure (AE)    The total amount of  spending in the economy:  the sum of  consumption, planned investment, government  purchases, and net exports. Aggregate expenditure model   (Keynesian Model)    A macroeconomic model that focuses on the  relationship between total spending and real  GDP, assuming the price level is constant.
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Aggregate Expenditure Consumption (C) Planned Investment (I) Government Purchases (G) Net Exports (NX) NX G I C AE + + + = Does this formula look familiar?
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This note was uploaded on 05/06/2008 for the course ECON 112 taught by Professor Ramirez during the Fall '08 term at E. Stroudsburg.

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Unit 3 - Chapter 11 - Macroeconomics Chapter 11 Output and...

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