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Publisher Description

INTRODUCTION While the Keynesian concepts of the marginal propensity to consume and the multiplier no longer dominate principles of macroeconomics textbooks as they once did, most instructors still spend class time discussing them. Once students are familiar with the MPC and the major types of aggregate spending, the economy's short-run equilibrium level of GDP is determined, assuming a constant price level. Discussion then typically shifts to the multiplier, with a change in autonomous spending (usually investment) establishing a new equilibrium level towards which the economy moves until the next demand shock occurs.

GENRE
Business & Personal Finance
RELEASED
2009
May 1
LANGUAGE
EN
English
LENGTH
10
Pages
PUBLISHER
The DreamCatchers Group, LLC
SELLER
The Gale Group, Inc., a Delaware corporation and an affiliate of Cengage Learning, Inc.
SIZE
276.9
KB

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