National Income and the Price Level: A Study in Macroeconomic TheoryMacroeconomics textbook on the theoretics of national income determination - covers price levels, inflation, the economic theory of economic growth, macrodynamics, the consumption function, the financial market and money supply, monetary policy, fiscal policy, etc., with particular reference to the USA. Diagrams and references. |
Contents
1 Introduction | 1 |
Advanced Analysis of National Income | 47 |
MATHEMATICAL APPENDIX | 64 |
Copyright | |
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Common terms and phrases
a₁ addition to wealth adjustment aggregate American Economic Association American Economic Review analysis assets banks behavior bonds capital gains capital stock change in income Chapter comparative statics constant consumer consumption function cost current income decline demand curve durable employment equal equation equilibrium values expected rate expenditure sector curve fall Federal Reserve Federal Reserve System fluctuations forecast fraction full-employment level full-employment real income government expenditures growth households i₁ implies increase interest rate intersection investment function labor ment monetary authority monetary policy monetary sector curve money rate money supply moving average multiplier national income output P₁ period permanent income hypothesis Phillips curve Pigou effect positive price level production function quantity of money rate of interest real cash balances real rate real wage relative result rise saving slope supply curve supply of money suppose Theory tion variables Y₁ yield zero δι