Description: I. INTRODUCTION. 1. Introduction to Macroeconomics. 2. The Measurement and Structure of the National Economy. II. LONG-RUN ECONOMIC PERFORMANCE. 3. Productivity, Output, and Employment. 4. Consumption, Saving, and Investment. 5. Saving and Investment in the Open Economy. 6. Long-Run Economic Growth. 7. The Asset Market, Money, and Prices. III. Business Cycles and Macroeconomic Policy. 8. Business Cycles. 9. The IS-LM/AD-AS Model: A General Framework for Macroeconomic Analysis. 10. Classical Business Cycle Analysis: Market-Clearing Macroeconomics. 11. Keynesianism: The Macroeconomics of Wage and Price Rigidity. IV. MACROECONOMIC POLICY: ITS ENVIRONMENT AND INSTITUTIONS. 12. Unemployment and Inflation. 13. Exchange Rates, Business Cycles, and Macroeconomic Policy in the Open Economy. 14. Monetary Policy and the Federal Reserve System. 15. Government Spending and Its Financing. Appendix A: Some Useful Analytical Tools. Glossary. Name Index. Subject Index.

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