chapter 5 a closed-economy model one-period macroeconomic model
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Chapter 5
A Closed-Economy Model One-Period Macroeconomic Model
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Figure 5.1 A Model Takes Exogenous Variables and Determines Endogenous Variables
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Figure 5.2 The Production Function and the Production Possibilities Frontier
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Figure 5.3 Competitive Equilibrium
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Figure 5.4 Pareto Optimality
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Figure 5.5 Using the Second Welfare Theorem to Determine a Competitive Equilibrium
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Figure 5.6 Equilibrium Effects of an Increase in Government Spending
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Figure 5.7 GDP, Consumption, and Government Expenditures
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Figure 5.8 Increase in Total Factor Productivity
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Figure 5.9 Competitive Equilibrium Effects of an Increase in Total Factor Productivity
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Figure 5.10 Income and Substitution Effects of an Increase in Total Factor Productivity
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Figure 5.11 Deviations from Trend in Real GDP and the Solow Residual
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Figure 5.12 The Relative Price of Energy