Chapter 1 The Science of Macroeconomics(曼昆宏观经济学,第七版(英))课件.pptVIP

President Barack Obamaand the State of the Economy When President Obama moved into the White House in 2009, the economy was in a state of turmoil. Mortgage defaults and a drop in housing prices were the major culprits. The crisis affected other sectors of the economy, pushing the economy into another recession. Some liken the situation to that of the Great Depression which occurred in the 1930s. Market clearing is an alignment process whereby decisions between suppliers and demanders reach an equilibrium. Here’s how it works. * * Chapter One CHAPTER 1 The Science of Macroeconomics ? A PowerP