principals-concepts-chap13 - ! Menu costs ! Planned...

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Chapter 13 ECO 2013 Core Principles Cost-Benefit Principle - this chapter looks at the costs and benefits of price changes (changes in sales versus menu costs). Equilibrium Principle - the chapter develops the short-run equilibrium condition in the basic Keynesian model. Important Concepts Covered
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Unformatted text preview: ! Menu costs ! Planned aggregate expenditures ! Consumption function ! MPC ! Autonomous and induced aggregate demand ! Short-run equilibrium output ! Income-expenditure multiplier ! Stabilization policies ! Expansionary/contractionary policies ! Automatic stabilizers ! Wealth effect...
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This note was uploaded on 10/03/2011 for the course ECO 2013 taught by Professor Barbaramoore during the Summer '08 term at University of Central Florida.

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