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Copyright © 2002 Pearson Education, Inc. Slide 1.

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Presentation on theme: "Copyright © 2002 Pearson Education, Inc. Slide 1."— Presentation transcript:

1 Copyright © 2002 Pearson Education, Inc. Slide 1

2 Copyright © 2002 Pearson Education, Inc. Slide 2 Keynesian Business Cycle Theory: The Sticky Wage Model Chapter 10

3 Copyright © 2002 Pearson Education, Inc. Slide 3 Figure 10-1 The Labor Market in the Keynesian Sticky Wage Model

4 Copyright © 2002 Pearson Education, Inc. Slide 4 Figure 10-2 The Labor Market in the Keynesian Sticky Wage Model When There Is Excess Demand

5 Copyright © 2002 Pearson Education, Inc. Slide 5 Figure 10-3 Construction of the Aggregate Supply Curve

6 Copyright © 2002 Pearson Education, Inc. Slide 6 Figure 10-4 The Effect of an Increase in W or a Decrease in z

7 Copyright © 2002 Pearson Education, Inc. Slide 7 Figure 10-5 The IS Curve

8 Copyright © 2002 Pearson Education, Inc. Slide 8 Figure 10-6 Money Demand, Money Supply, and the LM Curve

9 Copyright © 2002 Pearson Education, Inc. Slide 9 Figure 10-7 Determination of r and Y Given P

10 Copyright © 2002 Pearson Education, Inc. Slide 10 Figure 10-8 The Effect of an Increase in the Money Supply on the LM Curve

11 Copyright © 2002 Pearson Education, Inc. Slide 11 Figure 10-9 The Effects of an Increase in the Price Level on the LM Curve

12 Copyright © 2002 Pearson Education, Inc. Slide 12 Figure A Positive Shift in Money Demand Shifts the LM Curve to the Left

13 Copyright © 2002 Pearson Education, Inc. Slide 13 Figure The Aggregate Demand Curve

14 Copyright © 2002 Pearson Education, Inc. Slide 14 Figure A Shift to the Right in the IS Curve Shifts the AD Curve to the Right

15 Copyright © 2002 Pearson Education, Inc. Slide 15 Figure A Shift to the Right in the LM Curve Shifts the AD Curve to the Right

16 Copyright © 2002 Pearson Education, Inc. Slide 16 Figure The Keynesian Sticky Wage Model

17 Copyright © 2002 Pearson Education, Inc. Slide 17 Figure An Increase in the Money Supply in the Sticky Wage Model

18 Copyright © 2002 Pearson Education, Inc. Slide 18 Table 10-1

19 Copyright © 2002 Pearson Education, Inc. Slide 19 Figure An Increase in the Demand for Investment Goods in the Sticky Wage Model

20 Copyright © 2002 Pearson Education, Inc. Slide 20 Table 10-2

21 Copyright © 2002 Pearson Education, Inc. Slide 21 Figure Money Supply and GDP

22 Copyright © 2002 Pearson Education, Inc. Slide 22 Figure Real and Nominal Interest Rates

23 Copyright © 2002 Pearson Education, Inc. Slide 23 Figure Long-Run Adjustment of the Nominal Wage

24 Copyright © 2002 Pearson Education, Inc. Slide 24 Figure Stabilization Policy in the Sticky Wage ModelMonetary Policy

25 Copyright © 2002 Pearson Education, Inc. Slide 25 Figure Stabilization Policy in the Sticky Wage ModelFiscal Policy

26 Copyright © 2002 Pearson Education, Inc. Slide 26 Figure The Equilibrium Effects of a Positive Money Demand Shift


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