II._C._D._Long_Run_-_Expenditure

II._C._D._Long_Run_-_Expenditure - Intermediate...

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Intermediate Macroeconomics EC 302 II. Economy in the Long Run – Cont. A. Supply of Goods and Services: Production Factors of Production The Production Function Labor Market B. Distribution of Income Factor Markets C. Demand for Goods and Services: Expenditure Consumption, Investment Government Purchases Net Exports (Net Exports = 0 for the closed economy) D. Goods Market Equilibrium A. Supply of Goods and Services: Production B. Distribution of Income (See previous outline) C. Demand for Goods and Services: Expenditure Closed Economy Expenditure: Consumption + Government purchases + Investment Government Fiscal Policy Government Purchases and Taxes Fiscal Policy - Government Purchases and Taxes Consumption Current Consumption and Saving (Future Consumption) Impact of Fiscal Policy on Consumption Investment Future Marginal Product of Capital and User Cost of Capital Impact of Fiscal Policy on Investment 1 EC302 FS08 Outline II. C.D.
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Consumption Models of Desired Consumption Life Cycle Model of Consumption
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