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Classical Macroeconomic Model - Coggle Diagram
Classical Macroeconomic Model
Classical Economic Revolution & Mercantilist Ideas
Mercantilist Principles
Criticism by Classical Economists
Characteristics of Classical Economic Analysis
The Function of Aggregate Expenditure
Classical Aggregate Expenditure Function
The Determination of Employment
The demand for labor
Classical economy assumes
demand for labor reaches optimal levels
the equilibrium demand
Labour supply
function at the aggregate level
The Supply Labour Curve
Output and Employment Equilibrium
Aggregate expenditure function
Equation of labor demand
Equation of labor supply
Generation of the Classical Aggregate Supply Curve
The Aggregate Supply curve define
generate the aggregate supply curve
Shifts in the Classical Aggregate Supply Curve
The Determination of the General Price Level in the Classical Model
Quantity Theory of Money
Equation of exchange
characteristics
focuses on income transactions
The Cambridge Approach to the Quantity Theory of Money
The equation
characteristics
Generation of the Classical Aggregate Demand (AD) Curve
Transition of the Classical Aggregate Demand Curve
The Implication of Fiscal Policies in the Classical Equilibrium Model
Money printing
Selling bonds to the public
Taxation
The Equilibrium of Output and Price in the Classical Economic System
The determination of the classical interest rate