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Chapter 12

Chapter 12. Economic Fluctuations. Equilibrium. Inventory changes . ? Unintended changes in inventories cause price levels and real outputs to reach equilibrium. ? Two possibilities: the results of an inventory increase and of an inventory decrease. An Economy in Equilibrium.

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National Income Accounting

National Income Accounting. National Income and Product Accounts (NIPA) measure output and income in the U.S. Simon Kuznets led team that established and estimated national income accounts. Developed in 1930s at NBER and U.S. Department of Commerce

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Inventory changes - PowerPoint PPT Presentation

Chapter 12

National Income Accounting