ECONOMICS 5 e Roger Arnold CHAPTER 9 Economic
- Slides: 13
ECONOMICS, 5 e Roger Arnold CHAPTER 9 Economic Instability
Exhibit 1 Keynes’s View of Say’s Law in a Money Economy Arnold Economics, 5 e / Ch. 9 Economic Instability © 2001 South-Western College Publishing 107
Exhibit 2 The Economy Gets “Stuck” in a Recessionary Gap Arnold Economics, 5 e / Ch. 9 Economic Instability © 2001 South-Western College Publishing 108
Exhibit 3 A Question of How Long It Takes for Wage Rates and Prices to Fall Arnold Economics, 5 e / Ch. 9 Economic Instability © 2001 South-Western College Publishing 109
Exhibit 4 Consumption and Saving at Different Levels of Disposable Income (in billions) Arnold Economics, 5 e / Ch. 9 Economic Instability © 2001 South-Western College Publishing 110
Exhibit 5 The Derivation of the Total Expenditures (TE) Curve Arnold Economics, 5 e / Ch. 9 Economic Instability © 2001 South-Western College Publishing 111
Exhibit 6 The Three States of the Economy Arnold Economics, 5 e / Ch. 9 Economic Instability © 2001 South-Western College Publishing 112
Exhibit 7 The Economy: In Equilibrium, and in a Recessionary Gap, Too Arnold Economics, 5 e / Ch. 9 Economic Instability © 2001 South-Western College Publishing 113
Exhibit 8 A Change in Autonomous Investment Spending Relative to a Change in Real GDP Arnold Economics, 5 e / Ch. 9 Economic Instability © 2001 South-Western College Publishing 114
Exhibit 9 Unemployment Rates in Industry, 1925– 1928, and 1929– 1933; Percentage Decrease in Prices, 1929– 1932 SOURCE: Interwar Unemployment in International Perspective, Barry Eichengreen and T. J. Hatton (Dordrecht/Boston/London: Kluwer Academics Publishers). Arnold Economics, 5 e / Ch. 9 Economic Instability © 2001 South-Western College Publishing 115
Exhibit 10 Autonomous Investment Spending and the Multiplier Arnold Economics, 5 e / Ch. 9 Economic Instability © 2001 South-Western College Publishing 116
Exhibit 11 The Keynesian AS Curve Arnold Economics, 5 e / Ch. 9 Economic Instability © 2001 South-Western College Publishing 117
Exhibit 12 Can the Private Sector Remove the Economy from a Recessionary Gap? Arnold Economics, 5 e / Ch. 9 Economic Instability © 2001 South-Western College Publishing 118
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