I guess I have to come out to reply to those who concern with the nature rate of unemployment First, What is the natural rate of unemployment? It is assumed to be the unemployment rate at the steady state or equilibrium. Note that equilibrium here is not referred to the common

The Multiplier Process as Market Exchange Process A Contribution to the micro Foundation of Keynesian macroeconomics Abstract Traditional equilibrium analysis has been incorrectly founded once an\ordering issue\is

Course description Macroeconomics is the most disputed, confused, yet excited field in economics. This course introduces you how economists think about those macroeconomic problems such as inflation, unemployment and recession, and how macroeconomic policies

Introduction The objective of this chapter is to move from theory to empiric. Specially, we shall study how macroeconomic policies can be applied to solve practical macroeconomic problems

Introduction The objective of this chapter is to study how employment is determined in the labor market We are considering the labor market in which the following relation should always hold:

Introduction The objective of this chapter is to study ho lOW money and interest rate is determined in the money and financial market The money and financial market is the market in which money and various financial assets(such as, bonds and stocks) are exchanged

Gross Domestic Product (GDP) Defintion: GDP is the total market value of all final goods and services produced by a country Final versus Intermediate By final\, we mean the goods and service that are purchased for final use by purchaser and not for resale or further processing. The meaning intermediate is opposite to final

(Continued with question 1 in exercise for chapter 3). Suppose instead of given 2000 there is an investment function which takes the form Above, i is the interest rate. Meanwhile there is a demand function for money Md=1.2Y-20000i Assume that the monetary base is equal to 2000 while the required reserve ratio is 1 ). What is the equilibrium level of output Y and interest rate?

1. Please express the model of natural rate of unemployment according to blanchards book and then give your comments 2. How can you explain the aggregate demand and aggregate supply curves. How they are different from the usual definition on demand and supply curves

近几年国产数控系统在引进消化国外数控技 术的基础上有了很大的发展,已经生产出具 有自主版权的数控系统和数控杋床。西方禁 产锢中国多年的三轴以上联动技术也自行研制 成功,从而一举打破国外的技术封锁和经济 垄断,为振兴民族数控产业,加速工业现代 化奠定了坚实的技术基础