macroproduct market analysis how is output determined宏观经济学(南开大学,龚刚).pptVIP

Lecture 5 Product Market Analysis: How Is Output Determined? Macroeconomics I. Introduction The objective of this chapter is to study how output is determined in Keynesian framework. The analysis of output determination in this chapter is often named as multiplier analysis. The trading process: a trading day in Jevits Center (see textbook). II. The Basic Hypothesis Hypothesis 1: The agent does not have full confidence expectation (indicating ……). Hypothesis 2: There is no restriction in the capacity to supply output as demanded in the economy. Hypothesis 3: The price is given (or has be