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Contractionary monetary policy

Krugman Macroeconomics Chapter 21

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Module 21: Fiscal Policy and the Multiplier ? Why fiscal policy has a multiplier effect How the multiplier effect is influenced by automatic stabilizers ? Multiplier Effects of an Increase in Government Purchases of Goods and Services Government purchase ? firms earn revenues ? money flows to households ? increase disposable income ? rise in consumer spending ? firms increase output ? rise in disposable income ? Multiplier Effects of Changes in Government Transfers and Taxes Fiscal Policy: government purchases of goods and services change transfer payments or taxes change in government transfers or taxes shifts the aggregate demand curve by less than an equal-sized change in government purchases

Economics Commentary (IB, IA)

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Commentary This article is about a recent decline in England?s economy, and how it may affect us on a macroeconomic level (i.e. the country?s future in regards to its, monetary policy, employment, GDP, and inflation). As England endures their economic recession we?ve seen an increase in unemployment, reductions in salaries and wages, and a decrease in consumer confidence.

Economics Commentary (IB, IA)

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Commentary This article is about a recent decline in England?s economy, and how it may affect us on a macroeconomic level (i.e. the country?s future in regards to its, monetary policy, employment, GDP, and inflation). As England endures their economic recession we?ve seen an increase in unemployment, reductions in salaries and wages, and a decrease in consumer confidence.

Macroeconomics Formula Sheet

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Inflationary Gap: At Capacity, The difference between Planned Expenditure and Agg. Output (rise in price not met with rise in Y) Causes of Inflation: Demand Pull ? initiated by MD? Cost Push/Supply-Side ? caused by ?Costs and ?Supply Stagflation- Causes both Y? P? - BAD NEWS Expectations: Of price increases cause companies to collectively pre-empt by increasing prices causing the real price to rise Monetary/Fiscal: Expansionary monetary/Fiscal policy at capacity will also push up AD causing inflation Lags: Recognition, Implementation -much longer for Fiscal Policies, Response - time it takes for the economy to adjust after implementation- much longer for Monetary Policies)
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