Open-Economy Macroeconomics: Aggregate Demand and Aggregate Supply Chapter Objective: This chapter will give you some discussion about the relationship between price and output by using AS-AD framework in an open economy. Chapter 8 Outline 1.Introduction 2. AD,AS, and equilibrium in a closed economy 3.AD in an open economy under fixed and flexible exchange rates 4.Effect of economic shocks and macroeconomic policies on AD in open economies with flexible prices 5.Effect of fiscal and monetary policies in open economies with flexible prices 6.Macroeconomic policies to stimulate growth and adj
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