{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

mankiw7e-chap03 - Chapter 3 The Long-run Model National...

Info iconThis preview shows pages 1–7. Sign up to view the full content.

View Full Document Right Arrow Icon
National Income: Where it Comes From and Where it Where it Comes From and Where it Goes (in the long Goes (in the long- run) Chapter 3 - The Long-run Model In this chapter, you will learn: what determines the economy’s total output/income in the long-run. how the prices of the factors of production are determined how total income is distributed what determines the demand for goods and services how equilibrium in the goods market is achieved Outline of model A closed economy, market-clearing model Supply side factor markets (supply, demand, price) determination of output/income Demand side determinants of C, I, and G Equilibrium goods market loanable funds market
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon