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Though ultimately based on the actions of individual households and business firms, macroeconomics deals with aggregatesi. Figure 1 gives an indication of the magnitude of network effects by graphing the impulse response functions that result from a onetime, one standard deviation shock to every manufacturing industry. A european perspective will give students a fuller understanding of the subject and has been fully updated to provide broad coverage of the ongoing. This global edition has been edited to include enhancements making it more relevant to students outside the united states. The economics of money, banking and financial markets brings a fresh perspective to todays major questions surrounding financial policy.
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