Download Economic Policymaking

Economic Policymaking
The Price Level and Real Output
Figure 13-1
Deriving the Keynesian Aggregate Demand Schedule
Daniels and VanHoose
Price Level and Real Output
2
Figure 13-2 The Effect of an Increase in the Money
Stock on Aggregate Demand in a Closed Economy
Daniels and VanHoose
Price Level and Real Output
3
Figure 13-5 The Effect of an Increase in
Government Spending on Aggregate Demand in a Closed Economy
Daniels and VanHoose
Price Level and Real Output
4
Figure 13-8 The Aggregate
Production Function and the
Marginal-Product-of-Labor
(MPn) Schedule
Daniels and VanHoose
Price Level and Real Output
5
Figure 13-9
Aggregate Labor
Demand
Schedules
Daniels and VanHoose
Price Level and Real Output
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Figure 13-10
Inflexible
Wages with
Price Level
Changes
Daniels and VanHoose
Price Level and Real Output
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Figure 13-10
(cont.)
Flexible
Wages with
Price Level
Changes
Daniels and VanHoose
Price Level and Real Output
8
Figure 13-12 Labor-Market Flexibility
and Unemployment Rates in Selected Nations
Daniels and VanHoose
Price Level and Real Output
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Figure 13-13 Determination of the Equilibrium Price Level and
Equilibrium Real Output
Daniels and VanHoose
Price Level and Real Output
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Figure 13-14 The Effects of a Policy-Induced Increase in
Aggregate Demand
Daniels and VanHoose
Price Level and Real Output
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Figure 13-16
Annual Inflation Rates in the United States
Daniels and VanHoose
Price Level and Real Output
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Figure 13-17
The Inflation Bias of Discretionary Policymaking
Daniels and VanHoose
Price Level and Real Output
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Figure 13-18 Central Bank Independence,
Average Inflation, and Inflation Variability
Daniels and VanHoose
Price Level and Real Output
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Figure 13-19 Relationships between Central Bank
Independence and the Inflation-Output Trade-off and
Inflation Rates
Daniels and VanHoose
Price Level and Real Output
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