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Contents ?FOREWORDiii1. Emergence of Context of the Present Book of Macroeconomics52. NATIONAL INCOME Some Basic Concepts of Circular Flow of Income and Methods ofCalculating National Product or Value Added Some Macroeconomic Goods and GDP and Welfare273. MONEY AND Functions of Demand for Transaction Speculative The Supply of Definitions: Narrow and Broad Creation by the Banking of Monetary Policy and theReserve Bank of India434. INCOME Ex Ante and Ex Movement Along a Curve Versus Shift of a The Short Run Fixed Price Analysis of the Product A Point on the Aggregate Demand of an Autonomous Change on EquilibriumDemand in the Product Multiplier Mechanism565. THE GOVERNMENT: FUNCTIONS AND Components of the Government Revenue Capital of Government Fiscal in Government in Debt716. OPEN ECONOMY The Balance of Surplus and The Foreign Exchange of the Exchange Exchange Exchange Exchange Rate Management:The International The Determination of Income in an Open Income Identity for an Open Output and the Trade Trade Deficits, Savings and Investment93 GLOSSARY98 Chapter 1 IntroductionIntroductionIntroductionIntr oductionIntroductionYou must have already been introduced to a study of basicmicroeconomics.
account of how macroeconomics differs from the microeconomics that you have known. Those of you who will choose later to specialise in economics, for your higher studies, will know about the more complex analyses that are used by economists to study macroeconomics today. But the basic questions of the study of macroeconomics
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