a short course in introductory macroeconomics not to be circulated sanjay chugh 1 summer 2003 1 measuring the macroeconomy i gross domestic product 4 1 1 gdp and national income ...
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...A short course in introductory macroeconomics not to be circulated sanjay chugh summer measuring the macroeconomy i gross domestic product gdp and national income accounting as measure of standard living productivity business cycles ii unemployment classifying population types minimum wage theory labor market search an alternative optional iii prices consumer price index inflation biases cpi policy implications nominal variables vs real deflator level interest rates versus distributional consequences unexpected aggregate demand consumption keynesian function permanent hypothesis investment benefits costs optimal macroeconomic side equilibrium expenditure diagram curve multiplier recessionary inflationary gaps so how valid is identity supply run long reconciliation general gap did u s enter new economy during government stabilization fiscal revenue sources categories for deficits debt effects on limits effectiveness money role financial intermediaries monetary federal reserve transmissi...