3 . Initially, macrodeceleration affects primarily output and employment. The impact of macrorestraint on prices comes later,

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3 . Initially, macrodeceleration affects primarily output and employment. The impact of macrorestraint on prices comes later, perhaps several months after the rate of growth of output begins to decline.

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Economics Private And Public Choice

ISBN: 9780123110404

2nd Edition

Authors: James D Gwartney; Richard Stroup; A H Studenmund

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