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The Macroeconomic Framework

  • Lester D. Taylor
Chapter

Abstract

This chapter focuses on the macroeconomic framework, which guides the analyses of the book. We shall begin with an overview that describes how the major components of the framework relate to one another. The constraints (or “conservation laws”) that are imposed by the pool of fluid capital will then be discussed, followed by discussions of the determination of asset values and aggregate demand and aggregate supply. The chapter concludes with a description of the conditions, which define macroeconomic equilibrium.

Keywords

Aggregate Demand Current Production Current Prex Aggregate Supply Real Stock 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

References

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  6. Pigou, A.C. (1947), “Economic Progress in a Stable Environment,” Economic Journal, Vol. 57, pp. 180–88.Google Scholar

Copyright information

© Springer Science+Business Media, LLC 2010

Authors and Affiliations

  1. 1.Department of EconomicsUniversity of ArizonaTucsonUSA

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