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Open-Economy Macroeconomics Basic Concepts. Outline: Closed versus open economy Key macroeconomic variables in an open economy Understanding and
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Slide 12-1Copyright © 2003 Pearson Education, Inc. The National Income Accounts Gross national product (GNP) The market value of all final goods and
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Chapter 8 Slide 1 Figure 8-1 page 194 Imports and Exports as a Percentage of Output: 1997 Slide 2 Figure 8-2 page 200 Savings and Investment in a Small
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A Macroeconomic Theory of the Open Economy. Macroeconomic Variables in an Open Economy An open economy is one that interacts freely with other economies
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GNP = Expenditure on a Country’s Goods and Services Y = C d + I d + G d + EX = (C-C f ) + (I-I f ) + (G-G f ) + EX = C + I + G + EX – (C f + I f +G f )
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Chapter 32 A Macroeconomic Theory of the Open Economy
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Principles of Economics Session 15. Topics To Be Covered Open and Closed Economies Flow of Goods and Capital Equality of Net Exports and Net Foreign
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Dates April 1925 UK returns to gold October 1929 The Great Crash Sept 1931 UK leaves gold
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Principles of Economics
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A Macroeconomic Theory of the Open Economy Week 9 1Pengantar Ekonomi 2
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A Macroeconomic Theory of the Open Economy Chapter 14
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Open-Economy Macroeconomics: Basic Concepts
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