notes_macro_ch4 - MACROECONOMICS Georgios Karras University...

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Macro Notes © G.Karras 2010 MACROECONOMICS Georgios Karras* University of Illinois at Chicago * Professor of Economics; Mailing Address: Department of Economics, University of Illinois at Chicago, 601 S. Morgan St., Chicago, IL 60607-7121; e-mail: [email protected] . Lecture Draft Do not cite without permission
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Macro Notes © G.Karras 2010, p.2 ││ 4 ││ THE GOODS AND SERVICES MARKET 4.1. The Equilibrium Relationship Equilibrium (in general): Supply = Demand Macro Goods and Services: Production = Expenditure Algebraically: Y = C + I + G + NX
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