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Lecture Macroeconomics (20/e): Chapter 11 - McConnell, Brue, Flynn
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Chapter 11 - The aggregate expenditures model. The chapter begins with the simple version of the AE model: that of a closed, private economy. The equilibrium GDP is determined and multiplier effects are briefly reviewed. The simplified “closed” economy is then “opened” to show how it would be affected by exports and imports.
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