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CHAPTER 6
Macroeconomics: The Big
Picture
PowerPoint Slides
by Can Erbil
2006 Worth Publishers, all rights reserved
MACROECONOMIC
QUESTION
Go to business school or
take a job?
MACROECONOMIC
QUESTION
Ex.:
Ex.:
is widely viewed as
providing a rationale for continual
government intervention to manage
short-term fluctuations and adverse
events in the economy.
monetary policy
fiscal policy
Macroeconomics or
Microeconomics
How will Ms. Martins tips change when a large manufacturing plant near the
restaurant where she works closes?
What will happen to spending by consumers when the economy enters a downturn?
How will the price of oranges change when a late frost damages Floridas orange
groves?
How will wages at a manufacturing plant change when its workforce is unionized?
What will happen to US exports as the dollar becomes less expensive in terms of
other currencies?
Macroeconomics or
Microeconomics
-DONE-
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Consider this.
Paradox of Thrift
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12
Consider this.
Explain why there is typically less scope for
government intervention in microeconomics
than in macroeconomics.
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Recessions
Expansions,
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the
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economy.
Unemployment
The
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Employment and
Unemployment
Discouraged
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Underemployment
20
21
23
24
Answer: Sort of
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Consider this
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Open-economy
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They
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