Principles of Macroeconomics, v. 1.1.2
MIYO adapted by:
Steven Balassi
(v1.1.2 - Published)
Table of Contents
- About the Authors
- Acknowledgments
- Preface
- Economics: The Study of Choice
- Confronting Scarcity: Choices in Production
- Demand and Supply
- Applications of Demand and Supply
- Macroeconomics: The Big Picture
- Measuring Total Output and Income
- Aggregate Demand and Aggregate Supply
- Economic Growth
- The Nature and Creation of Money
- Financial Markets and the Economy
- Monetary Policy and the Fed
- Government and Fiscal Policy
- Consumption and the Aggregate Expenditures Model
- Investment and Economic Activity
- Net Exports and International Finance
- Inflation and Unemployment
- Appendix A: Graphs in Economics
- Appendix B: Extensions of the Aggregate Expenditures Model
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Chapter 18 Appendix B: Extensions of the Aggregate Expenditures Model
In this appendix, we will extend the aggregate expenditures model in two ways. First, we will express the model in general algebraic form and show how to solve it for the equilibrium level of real GDP. The advantage of using general algebraic expressions in place of the specific numbers that we used in the chapter is that we can then use the results to solve for any specific value that may pertain to a given economy. Second, we will show how the aggregate expenditures model can be used to analyze the impact of fiscal policies on the economy.