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Macroeconomics Textbook Summary

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It summarizes reading from CH1 to CH 13 in the required textbook of intro Macro with proper headings and subheading -easy to understand and read -explained in detail

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22 Pages Complete Study Notes > 2 Years old
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5 Ex Credits


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Topics this document covers:
Economy Economics Macroeconomics Inflation Keynesian economics Monetary policy Fiscal policy Monetary economics Aggregate demand Crowding out Real interest rate Unemployment
This is a Complete Set of Study Notes

Complete Study Notes typically cover at least half a semester’s content or several topics in greater depth. They are typically greater than 20 pages in length and go into more detail when covering topics.

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Topics this document covers:
Economy Economics Macroeconomics Inflation Keynesian economics Monetary policy Fiscal policy Monetary economics Aggregate demand Crowding out Real interest rate Unemployment
Sample Text:
o Indexing to maintain buying power o CPI overstates the true inflation -not adjust adequately for changes in quality (quality adjustment bias) -fixed basket of goods and services (not possibility to switch products) (substitution bias) o The cost of inflation -shoes-leather cost -noise in the price system -distortion of the tax system -unexpected redistribution of wealth -interference with long-run planning -menu cost *high inflation reduces consumption and increases government budget o ↑ Inflation, ↑ interest rates o Real interest rate o Deflation when price level falls 2%, real interest rate is 2%, then nominal interest rate is zero. so people don’t want to ...
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