Macroeconomics and Monetary Theory Book + PRICE WATCH * Amazon pricing is not included in price watch

Macroeconomics and Monetary Theory Book

Macroeconomics is an outgrowth from the mainstream of classical monetary theory following Keynes. Keynes changed the emphasis from the determination of the level of money prices to the determination of the level of output and employment. He also changed the key relationship from demand and supply of money as determining the price level, to the relationship between consumption expenditure and income, in conjunction with private investment expenditure, as determining the level of output and therefore employment demanded. The income multiplier replaced the velocity of circulation as the key concept of monetary theory.Read More

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  • 0202060543
  • 9780202060545
  • Harry G. Johnson
  • 1 December 1972
  • AldineTransaction
  • Hardcover (Book)
  • 214
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