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Macroeconomics Complete Summary

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Complete summary of the Macroeconomics course. Distinction level notes. Commentary and notes.

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76 Pages Complete Study Notes > 2 Years old
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Topics this document covers:
Economy Macroeconomics Inflation National accounts Gross domestic product Price indices Unemployment Real interest rate Real gross domestic product Deflation Real versus nominal value Consumer price index
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 Macroeconomics Inflation National accounts Gross domestic product Price indices Unemployment Real interest rate Real gross domestic product Deflation Real versus nominal value Consumer price index
Sample Text:
e. World Bank • Output tends to rise over time=more quantity and quality of g & s=rise in living standards • Stable business cycle • Short run business cycle: tendency for economies to go through periods of economic expansion, then contraction etc • Expansion –output is expanding rapidly and low unemployment levels(but inflation can rise) • Contraction – output growth is slow/falling and unemployment high • Recession - two consecutive quarters (6 months) in which the economy’s output declines. • Relatively Stable Price Level • Inflation: a sustained increase in...
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