1 Introduction to Macroeconomics
2 Measuring the Macroeconomy
3 An Overview of Long-Run Economic Growth
4 A Model of Production
5 The Solow Growth Model
6 Growth and Ideas
7 The Labor Market, Wages, and Unemployment
8 Inflation
9 An Overview of the Short-Run Model
10 The IS Curve
11 Monetary Policy and the Phillips Curve
12 Stabilization Policy and the AS/AD Framework
13 The Global Financial Crisis: Overview
14 The Global Financial Crisis and the Short-Run Model
15 The Government and the Macroeconomy
16 International Trade
17 Exchange Rates and International Finance
18 Parting Thoughts

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Chapter 15: The Government and the Macroeconomy

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Review Questions

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    How large is the current budget balance? What about the current debt-GDP ratio? Is the current fiscal situation especially troublesome? Why or why not?

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    Explain the flow version of the government budget constraint. Explain the government’s intertemporal budget constraint.

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    How much can the government borrow?

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    What are three sources of saving that can be used to finance investment? What is “crowding out”?

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    What is the fiscal problem of the twenty-first century, and what are some possible solutions?




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