Macroeconomic Principles - Econ 103 - Spring 2013 TA :
نویسنده
چکیده
Chapter 12 presents the technical analysis of both expansionary/contractionary fiscal/monetary policy or their policy mix in the framework of Keynesian Theory. As you’ll see in Chapter 13, both Fiscal and Monetary Policies are used to target aggregate expenditure (called aggregate demand when price level is allowed to float)so as to change the equilibrium level of income.Remember, all the conclusions we reach here are based on STICK price assumption i.e. price level is resistant to change in the short run.In the long run when price level is flexible, we may have a different story by incorporating the supply side of the economy into our model.
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