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Front Cover; Front Matter; Half title; Full title; Imprint; About the Authors; Brief Contents; Full Contents; Focus Boxes; Preface; Introduction; Chapter 1 A Tour of the World; 1.1 The crisis; 1.2 Australia; 1.3 The United States; Should you worry about the US fiscal deficit?; 1.4 The Euro area; How...

2.2 The unemployment rateWhy do economists care about unemployment?; 2.3 The inflation rate; The GDP deflator; The consumer price index; Why do economists care about inflation?; 2.4 Output, unemployment and the inflation rate: Okun's law and the Phillips curve; Okunâ#x80;#x99;s law; The Phillips cu...

Consumption (C)Investment (I); Government spending (G); 3.3 The determination of equilibrium output; Using algebra; Using a graph; Using words; How long does it take for output to adjust?; 3.4 Investment equals saving: An alternative way of thinking about goodsâ#x80;#x93;market equilibrium; 3.5 Is...

Choosing money or choosing the interest rate?Money, bonds and other assets; 4.3 Determining the interest rate: II; What banks do; The supply of and demand for central bank money; The demand for money; The demand for reserves; The demand for central bank money; The determination of the interest rate;...

5.1 The goods market and the IS relationInvestment, sales and the interest rate; Determining output; Deriving the IS curve; Shifts of the IS curve; 5.2 Financial markets and the LM relation; Real money, real income and the interest rate; Deriving the LM curve; Shifts of the LM curve; 5.3 Putting the...

Chapter 6 The Labour Market.