Unformatted text preview: principles texts without careful thought (apologies to my long-time friends Ed Dolan and Dave Lindsey, who first did that, in their textbook) to describe the stagflation of the 1970s. The thought was that using “demand and supply” would make macro easy to understand, but it’s misleading. One reason among many they’re not useful is that the aggregate demand curve implies that deflation increases demand. Because people are using various editions, I give chapter titles rather than numbers. The 12 chapters for test 1 from Rittenberg and Tregarthen are: Demand and Supply Applications of Demand and Supply Elasticity Wages and Employment in Perfect Competition: Sections 1 and 3. Macroeconomics, the Big Picture: Sections 1 and 3. Measuring Total Output and Income Economic Growth Government and Fiscal Policy Consumption and the Aggregate Expenditures Model The Nature and Creation of Money Financial Markets and the Economy Monetary Policy and the Fed...
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This note was uploaded on 02/17/2012 for the course ECO 2013 taught by Professor Denslow during the Fall '05 term at University of Florida.
- Fall '05