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Unformatted text preview: 3. Business Cycles Definition, Expansions, and Contractions Dating the cycles, National Bureau of Economics (NBER) 4. IS: Goods Market equilibrium Deriving the IS from desired Saving and desired Investment equilibrium Goods demanded and Goods supplied equilibrium; Keynesian Cross Causes for shifts of the IS curve or movements along the IS curve 5. LM: Money Market Equilibrium Deriving the LM curve from Real Money supply and Real Money demand EC 302 Exam 2 Study Guide 2 6. Short Run Equilibrium of the goods market and money market IS – LM equilibrium 7. General Equilibrium (Long Run Equilibrium) Full Employment Output, Income Equilibrium in all three markets Shifts in the IS, LM, or FE 8. Aggregate Demand – Aggregate Supply Aggregate Demand: Deriving the Aggregate Demand from the IS and LM Aggregate Supply Short Run Aggregate Supply (SRAS) Long Run Aggregate Supply (LRAS)...
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This note was uploaded on 02/22/2010 for the course EC EC 302 taught by Professor Wilson during the Fall '08 term at Michigan State University.
- Fall '08