Titlebook: Introduction to Macro-Economics: A Workbook; J. Harvey,M. Johnson Book 1973 J. Harvey and Janet Johnson 1973 economics.macroeconomics

alliance

The Measurement of the National Income,Macro-economics is concerned with comparisons between:

CLOT

The Keynesian Approach,Keynes’ analysis was greatly influenced by the inter-war depression, with its unprecedented mass unemployment. As we have seen, the Classical theory could offer no solution except that of cutting wage-rates. How could the economic system (supposedly designed to alleviate the problem of scarcity) result in such poverty and misery?

NADIR

FOIL

Investment Expenditure,This chapter concentrates on the determinants of private net investment expenditure.

progestogen

The Basic Theory of Income Determination,This chapter brings together the separate analysis of Chapters 5 and 6. It shows how an equilibrium level of income is determined in a simple economy in which there are only three basic activities — investment expenditure, consumption expenditure and saving.

Abrupt

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Fatten

Fluctuations in the Level of Employment and the Role of the Government,We have now developed a simple macro-model of the economy. What we have sought to explain are the cyclical fluctuations depicted by the broken line in the following diagram. The upward trend of the unbroken line represents secular growth (see Chapters 19 and 20).

ASSET

Monetary Policy,Monetary policy seeks to influence the level of AD by varying the cost or availability of credit.

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