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Chapter 13 Unemployment and Inflation

Chapter 13 Unemployment and Inflation

Chapter 13 Unemployment and Inflation. Economics 282 University of Alberta. Unemployment and Inflation. The Phillips curve is a negative empirical relationship between unemployment and inflation. In 1970-2003 there seemed to be no reliable relationship between unemployment and inflation.

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811 views • 48 slides
7. The Aggregate Supply Curve

7. The Aggregate Supply Curve

7. The Aggregate Supply Curve. Abel, Bernanke, and Croushore (chapters 3 and 9.6). Syllabus Outline. Introduction to Macroeconomics The measurement and structure of the national economy Goods market equilibrium: the IS curve Money market equilibrium: the LM curve The IS-LM model

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677 views • 37 slides
CHAPTER NINE Introduction to Economic Fluctuations

CHAPTER NINE Introduction to Economic Fluctuations

CHAPTER NINE Introduction to Economic Fluctuations. Until now - theories to explain how the economy behaves in the long run . Those theories were based on the classical dichotomy -- the premise that real variables, such as output and employment,

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392 views • 25 slides
5. The IS-LM model

5. The IS-LM model

5. The IS-LM model. Abel, Bernanke and Croushore (chapters 9.4, 9.5 and 9.6). I. The IS-LM equilibrium. Building blocks Negative relationship between r and Y that clears the goods market (IS curve) Positive relationship between r and Y that clears the money market (LM curve)

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284 views • 15 slides
Aggregate Supply and the Phillips Curve

Aggregate Supply and the Phillips Curve

Aggregate Supply and the Phillips Curve. Chapter #6. Inflation and Unemployment. To further develop AS side of the econ (dynamic adjustment from short to long run) examine P-Y relationship based on links between wages, P, employment & Y.

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147 views • 13 slides
CHAPTER 5

CHAPTER 5

CHAPTER 5. Saving And Investment In The Open Economy. Balance of Payments. BOP: The record of a country's international transactions. Any transaction that involves a flow of money into the United States is a credit (+) item (enters with a plus sign); for example, exports

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296 views • 12 slides

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