<?xml version="1.0"?>
<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html lang="en" xml:lang="en" xmlns="http://www.w3.org/1999/xhtml">
  <head>
    <meta content="text/html; charset=utf-8" http-equiv="Content-type" />
    <title>Macro economic theory 12th Edition</title>
    <meta name="dc:creator" content="Macro economics theory 12th edition Part-1" />
    <meta name="dc:date" content="2016-05-04" />
    <meta name="dc:identifier" content="905ebfa9-6fe2-4392-8555-45f7351822ca" />
    <meta name="dc:language" content="English" />
    <meta name="dc:publisher" content="Vrinda publications" />
    <meta name="dc:title" content="Macro economic theory 12th Edition" />
    <meta name="ncc:narrator" content="Rekha shah" />
    <meta name="ncc:producedDate" content="2016-05-04" />
    <meta name="ncc:producer" content="Mitra jyothi" />
    <meta name="ncc:revision" content="1" />
    <meta name="ncc:revisionDate" content="2016-06-13" />
    <meta name="ncc:generator" content="Obi v3.7.0.24166 with toolkit: UrakawaSDK.core v2.0.0.0 (http://urakawa.sf.net/obi)" />
    <meta name="dc:format" content="Daisy 2.02" />
    <meta name="ncc:charset" content="utf-8" />
    <meta name="ncc:pageFront" content="0" />
    <meta name="ncc:maxPageNormal" content="179" />
    <meta name="ncc:pageNormal" content="179" />
    <meta name="ncc:pageSpecial" content="0" />
    <meta name="ncc:tocItems" content="211" />
    <meta name="ncc:totalTime" content="16:03:09" />
    <meta name="ncc:multimediaType" content="audioNcc" />
    <meta name="ncc:depth" content="4" />
    <meta name="ncc:files" content="66" />
  </head>
  <body>
    <h1 class="title" id="h1">
      <a href="001.smil#txt4">Macro Economic Theory 12th Edition part-1</a>
    </h1>
    <h2 class="section" id="h9">
      <a href="002.smil#txt12">01  English </a>
    </h2>
    <h2 class="section" id="h19">
      <a href="003.smil#txt22">Preface</a>
    </h2>
    <h2 class="section" id="h93">
      <a href="004.smil#txt96">Brief Contents</a>
    </h2>
    <h3 class="section" id="h125">
      <a href="005.smil#txt128">Contents</a>
    </h3>
    <h3 class="section" id="h187">
      <a href="006.smil#txt190">Part-1 Introduction</a>
    </h3>
    <h4 class="section" id="h193">
      <a href="007.smil#txt196">1.The nature and scope of macroeconomics</a>
    </h4>
    <span class="page-normal" id="p199">
      <a href="007.smil#txt201">1</a>
    </span>
    <span class="page-normal" id="p289">
      <a href="007.smil#txt291">2</a>
    </span>
    <span class="page-normal" id="p378">
      <a href="007.smil#txt380">3</a>
    </span>
    <span class="page-normal" id="p459">
      <a href="007.smil#txt461">4</a>
    </span>
    <span class="page-normal" id="p542">
      <a href="007.smil#txt544">5</a>
    </span>
    <span class="page-normal" id="p628">
      <a href="007.smil#txt630">6</a>
    </span>
    <span class="page-normal" id="p752">
      <a href="007.smil#txt754">7</a>
    </span>
    <span class="page-normal" id="p830">
      <a href="007.smil#txt832">8</a>
    </span>
    <span class="page-normal" id="p912">
      <a href="007.smil#txt914">9</a>
    </span>
    <span class="page-normal" id="p980">
      <a href="007.smil#txt982">10</a>
    </span>
    <h3 class="section" id="h1010">
      <a href="008.smil#txt1013">Part-2 National Income</a>
    </h3>
    <h4 class="section" id="h1016">
      <a href="009.smil#txt1019">2.National Income</a>
    </h4>
    <span class="page-normal" id="p1022">
      <a href="009.smil#txt1024">11</a>
    </span>
    <span class="page-normal" id="p1073">
      <a href="009.smil#txt1075">12</a>
    </span>
    <span class="page-normal" id="p1173">
      <a href="009.smil#txt1175">13</a>
    </span>
    <span class="page-normal" id="p1251">
      <a href="009.smil#txt1253">14</a>
    </span>
    <span class="page-normal" id="p1335">
      <a href="009.smil#txt1337">15</a>
    </span>
    <span class="page-normal" id="p1422">
      <a href="009.smil#txt1424">16</a>
    </span>
    <span class="page-normal" id="p1504">
      <a href="009.smil#txt1506">17</a>
    </span>
    <span class="page-normal" id="p1589">
      <a href="009.smil#txt1591">18</a>
    </span>
    <span class="page-normal" id="p1675">
      <a href="009.smil#txt1677">19</a>
    </span>
    <span class="page-normal" id="p1733">
      <a href="009.smil#txt1735">20</a>
    </span>
    <span class="page-normal" id="p1808">
      <a href="009.smil#txt1810">21</a>
    </span>
    <span class="page-normal" id="p1885">
      <a href="009.smil#txt1887">22</a>
    </span>
    <span class="page-normal" id="p1969">
      <a href="009.smil#txt1971">23</a>
    </span>
    <span class="page-normal" id="p2055">
      <a href="009.smil#txt2057">24</a>
    </span>
    <span class="page-normal" id="p2146">
      <a href="009.smil#txt2148">25</a>
    </span>
    <span class="page-normal" id="p2219">
      <a href="009.smil#txt2221">26</a>
    </span>
    <span class="page-normal" id="p2298">
      <a href="009.smil#txt2300">27</a>
    </span>
    <h4 class="section" id="h2332">
      <a href="010.smil#txt2335">3.Economic Welfare And National Income</a>
    </h4>
    <span class="page-normal" id="p2338">
      <a href="010.smil#txt2340">28</a>
    </span>
    <span class="page-normal" id="p2408">
      <a href="010.smil#txt2410">29</a>
    </span>
    <span class="page-normal" id="p2499">
      <a href="010.smil#txt2501">30</a>
    </span>
    <span class="page-normal" id="p2586">
      <a href="010.smil#txt2588">31</a>
    </span>
    <span class="page-normal" id="p2664">
      <a href="010.smil#txt2666">32</a>
    </span>
    <h4 class="section" id="h2690">
      <a href="011.smil#txt2693">4.National Income Accounting</a>
    </h4>
    <span class="page-normal" id="p2696">
      <a href="011.smil#txt2698">33</a>
    </span>
    <span class="page-normal" id="p2763">
      <a href="011.smil#txt2765">34</a>
    </span>
    <span class="page-normal" id="p2831">
      <a href="011.smil#txt2833">35</a>
    </span>
    <span class="page-normal" id="p2889">
      <a href="011.smil#txt2891">36</a>
    </span>
    <span class="page-normal" id="p2995">
      <a href="011.smil#txt2997">37</a>
    </span>
    <span class="page-normal" id="p3067">
      <a href="011.smil#txt3069">38</a>
    </span>
    <span class="page-normal" id="p3123">
      <a href="011.smil#txt3125">39</a>
    </span>
    <span class="page-normal" id="p3219">
      <a href="011.smil#txt3221">40</a>
    </span>
    <span class="page-normal" id="p3286">
      <a href="011.smil#txt3288">41</a>
    </span>
    <span class="page-normal" id="p3357">
      <a href="011.smil#txt3359">42</a>
    </span>
    <span class="page-normal" id="p3462">
      <a href="011.smil#txt3464">43</a>
    </span>
    <span class="page-normal" id="p3534">
      <a href="011.smil#txt3536">44</a>
    </span>
    <span class="page-normal" id="p3589">
      <a href="011.smil#txt3591">45</a>
    </span>
    <span class="page-normal" id="p3653">
      <a href="011.smil#txt3655">46</a>
    </span>
    <span class="page-normal" id="p3722">
      <a href="011.smil#txt3724">47</a>
    </span>
    <span class="page-normal" id="p3766">
      <a href="011.smil#txt3768">48</a>
    </span>
    <h4 class="section" id="h3799">
      <a href="012.smil#txt3802">5.The Circular Flow of Income</a>
    </h4>
    <span class="page-normal" id="p3805">
      <a href="012.smil#txt3807">49</a>
    </span>
    <span class="page-normal" id="p3872">
      <a href="012.smil#txt3874">50</a>
    </span>
    <span class="page-normal" id="p3931">
      <a href="012.smil#txt3933">51</a>
    </span>
    <span class="page-normal" id="p3976">
      <a href="012.smil#txt3978">52</a>
    </span>
    <span class="page-normal" id="p4046">
      <a href="012.smil#txt4048">53</a>
    </span>
    <h3 class="section" id="h4087">
      <a href="013.smil#txt4090">Part-3 Macroeconomic Theory</a>
    </h3>
    <h4 class="section" id="h4093">
      <a href="014.smil#txt4096">6.The Classical Theory of Employment</a>
    </h4>
    <span class="page-normal" id="p4099">
      <a href="014.smil#txt4101">54</a>
    </span>
    <span class="page-normal" id="p4141">
      <a href="014.smil#txt4143">55</a>
    </span>
    <span class="page-normal" id="p4194">
      <a href="014.smil#txt4196">56</a>
    </span>
    <span class="page-normal" id="p4272">
      <a href="014.smil#txt4274">57</a>
    </span>
    <span class="page-normal" id="p4356">
      <a href="014.smil#txt4358">58</a>
    </span>
    <span class="page-normal" id="p4399">
      <a href="014.smil#txt4401">59</a>
    </span>
    <span class="page-normal" id="p4474">
      <a href="014.smil#txt4476">60</a>
    </span>
    <span class="page-normal" id="p4553">
      <a href="014.smil#txt4555">61</a>
    </span>
    <h4 class="section" id="h4577">
      <a href="015.smil#txt4580">7.Say's Law of Market</a>
    </h4>
    <span class="page-normal" id="p4583">
      <a href="015.smil#txt4585">62</a>
    </span>
    <span class="page-normal" id="p4640">
      <a href="015.smil#txt4642">63</a>
    </span>
    <span class="page-normal" id="p4687">
      <a href="015.smil#txt4689">64</a>
    </span>
    <h4 class="section" id="h4729">
      <a href="016.smil#txt4732">8.The Principle of Effective Demand</a>
    </h4>
    <span class="page-normal" id="p4735">
      <a href="016.smil#txt4737">65</a>
    </span>
    <span class="page-normal" id="p4777">
      <a href="016.smil#txt4779">66</a>
    </span>
    <span class="page-normal" id="p4817">
      <a href="016.smil#txt4819">67</a>
    </span>
    <span class="page-normal" id="p4898">
      <a href="016.smil#txt4900">68</a>
    </span>
    <span class="page-normal" id="p4987">
      <a href="016.smil#txt4989">69</a>
    </span>
    <span class="page-normal" id="p5031">
      <a href="016.smil#txt5033">70</a>
    </span>
    <h4 class="section" id="h5056">
      <a href="017.smil#txt5059">9.The Consumption Function</a>
    </h4>
    <span class="page-normal" id="p5062">
      <a href="017.smil#txt5064">71</a>
    </span>
    <span class="page-normal" id="p5112">
      <a href="017.smil#txt5114">72</a>
    </span>
    <span class="page-normal" id="p5213">
      <a href="017.smil#txt5215">73</a>
    </span>
    <span class="page-normal" id="p5286">
      <a href="017.smil#txt5288">74</a>
    </span>
    <span class="page-normal" id="p5384">
      <a href="017.smil#txt5386">75</a>
    </span>
    <span class="page-normal" id="p5458">
      <a href="017.smil#txt5460">76</a>
    </span>
    <span class="page-normal" id="p5548">
      <a href="017.smil#txt5550">77</a>
    </span>
    <span class="page-normal" id="p5633">
      <a href="017.smil#txt5635">78</a>
    </span>
    <span class="page-normal" id="p5709">
      <a href="017.smil#txt5711">79</a>
    </span>
    <h4 class="section" id="h5772">
      <a href="018.smil#txt5775">10.Theory of the Consumption Function</a>
    </h4>
    <span class="page-normal" id="p5778">
      <a href="018.smil#txt5780">80</a>
    </span>
    <span class="page-normal" id="p5839">
      <a href="018.smil#txt5841">81</a>
    </span>
    <span class="page-normal" id="p5902">
      <a href="018.smil#txt5904">82</a>
    </span>
    <span class="page-normal" id="p5983">
      <a href="018.smil#txt5985">83</a>
    </span>
    <span class="page-normal" id="p6048">
      <a href="018.smil#txt6050">84</a>
    </span>
    <span class="page-normal" id="p6124">
      <a href="018.smil#txt6126">85</a>
    </span>
    <span class="page-normal" id="p6196">
      <a href="018.smil#txt6198">86</a>
    </span>
    <span class="page-normal" id="p6266">
      <a href="018.smil#txt6268">87</a>
    </span>
    <span class="page-normal" id="p6326">
      <a href="018.smil#txt6328">88</a>
    </span>
    <span class="page-normal" id="p6406">
      <a href="018.smil#txt6408">89</a>
    </span>
    <span class="page-normal" id="p6482">
      <a href="018.smil#txt6484">90</a>
    </span>
    <h4 class="section" id="h6524">
      <a href="019.smil#txt6527">11.The Investment Function</a>
    </h4>
    <span class="page-normal" id="p6530">
      <a href="019.smil#txt6532">91</a>
    </span>
    <span class="page-normal" id="p6610">
      <a href="019.smil#txt6612">92</a>
    </span>
    <span class="page-normal" id="p6702">
      <a href="019.smil#txt6704">93</a>
    </span>
    <span class="page-normal" id="p6759">
      <a href="019.smil#txt6761">94</a>
    </span>
    <span class="page-normal" id="p6826">
      <a href="019.smil#txt6828">95</a>
    </span>
    <span class="page-normal" id="p6897">
      <a href="019.smil#txt6899">96</a>
    </span>
    <span class="page-normal" id="p6954">
      <a href="019.smil#txt6956">97</a>
    </span>
    <span class="page-normal" id="p7028">
      <a href="019.smil#txt7030">98</a>
    </span>
    <span class="page-normal" id="p7096">
      <a href="019.smil#txt7098">99</a>
    </span>
    <span class="page-normal" id="p7166">
      <a href="019.smil#txt7168">100</a>
    </span>
    <h4 class="section" id="h7197">
      <a href="020.smil#txt7200">12.The Concept of Multiplier</a>
    </h4>
    <span class="page-normal" id="p7203">
      <a href="020.smil#txt7205">101</a>
    </span>
    <span class="page-normal" id="p7267">
      <a href="020.smil#txt7269">102</a>
    </span>
    <span class="page-normal" id="p7356">
      <a href="020.smil#txt7358">103</a>
    </span>
    <span class="page-normal" id="p7404">
      <a href="020.smil#txt7406">104</a>
    </span>
    <span class="page-normal" id="p7473">
      <a href="020.smil#txt7475">105</a>
    </span>
    <span class="page-normal" id="p7538">
      <a href="020.smil#txt7540">106</a>
    </span>
    <span class="page-normal" id="p7593">
      <a href="020.smil#txt7595">107</a>
    </span>
    <span class="page-normal" id="p7659">
      <a href="020.smil#txt7661">108</a>
    </span>
    <span class="page-normal" id="p7737">
      <a href="020.smil#txt7739">109</a>
    </span>
    <h4 class="section" id="h7771">
      <a href="021.smil#txt7774">13.Complex Multipliers</a>
    </h4>
    <span class="page-normal" id="p7777">
      <a href="021.smil#txt7779">110</a>
    </span>
    <span class="page-normal" id="p7833">
      <a href="021.smil#txt7835">111</a>
    </span>
    <span class="page-normal" id="p7898">
      <a href="021.smil#txt7900">112</a>
    </span>
    <span class="page-normal" id="p7947">
      <a href="021.smil#txt7949">113</a>
    </span>
    <span class="page-normal" id="p8027">
      <a href="021.smil#txt8029">114</a>
    </span>
    <h4 class="section" id="h8066">
      <a href="022.smil#txt8069">14.Foriegn Trade Multiplier</a>
    </h4>
    <span class="page-normal" id="p8072">
      <a href="022.smil#txt8074">115</a>
    </span>
    <span class="page-normal" id="p8134">
      <a href="022.smil#txt8136">116</a>
    </span>
    <span class="page-normal" id="p8187">
      <a href="022.smil#txt8189">117</a>
    </span>
    <span class="page-normal" id="p8252">
      <a href="022.smil#txt8254">118</a>
    </span>
    <span class="page-normal" id="p8286">
      <a href="022.smil#txt8288">119</a>
    </span>
    <h4 class="section" id="h8331">
      <a href="023.smil#txt8334">15.The Principle of Acceleration and the Super Multiplier</a>
    </h4>
    <span class="page-normal" id="p8337">
      <a href="023.smil#txt8339">120</a>
    </span>
    <span class="page-normal" id="p8413">
      <a href="023.smil#txt8415">121</a>
    </span>
    <span class="page-normal" id="p8490">
      <a href="023.smil#txt8492">122</a>
    </span>
    <span class="page-normal" id="p8545">
      <a href="023.smil#txt8547">123</a>
    </span>
    <span class="page-normal" id="p8596">
      <a href="023.smil#txt8598">124</a>
    </span>
    <span class="page-normal" id="p8705">
      <a href="023.smil#txt8707">125</a>
    </span>
    <span class="page-normal" id="p8801">
      <a href="023.smil#txt8803">126</a>
    </span>
    <span class="page-normal" id="p8834">
      <a href="023.smil#txt8836">127</a>
    </span>
    <h4 class="section" id="h8852">
      <a href="024.smil#txt8855">16.Some New Theories of Investment</a>
    </h4>
    <span class="page-normal" id="p8858">
      <a href="024.smil#txt8860">128</a>
    </span>
    <span class="page-normal" id="p8917">
      <a href="024.smil#txt8919">129</a>
    </span>
    <span class="page-normal" id="p8951">
      <a href="024.smil#txt8953">130</a>
    </span>
    <span class="page-normal" id="p9027">
      <a href="024.smil#txt9029">131</a>
    </span>
    <span class="page-normal" id="p9101">
      <a href="024.smil#txt9103">132</a>
    </span>
    <span class="page-normal" id="p9126">
      <a href="024.smil#txt9128">133</a>
    </span>
    <span class="page-normal" id="p9197">
      <a href="024.smil#txt9199">134</a>
    </span>
    <span class="page-normal" id="p9299">
      <a href="024.smil#txt9301">135</a>
    </span>
    <span class="page-normal" id="p9381">
      <a href="024.smil#txt9383">136</a>
    </span>
    <span class="page-normal" id="p9473">
      <a href="024.smil#txt9475">137</a>
    </span>
    <span class="page-normal" id="p9520">
      <a href="024.smil#txt9522">138</a>
    </span>
    <span class="page-normal" id="p9585">
      <a href="024.smil#txt9587">139</a>
    </span>
    <span class="page-normal" id="p9667">
      <a href="024.smil#txt9669">140</a>
    </span>
    <span class="page-normal" id="p9744">
      <a href="024.smil#txt9746">141</a>
    </span>
    <span class="page-normal" id="p9806">
      <a href="024.smil#txt9808">142</a>
    </span>
    <span class="page-normal" id="p9868">
      <a href="024.smil#txt9870">143</a>
    </span>
    <h4 class="section" id="h9900">
      <a href="025.smil#txt9903">17.The Saving Function</a>
    </h4>
    <span class="page-normal" id="p9906">
      <a href="025.smil#txt9908">144</a>
    </span>
    <span class="page-normal" id="p9972">
      <a href="025.smil#txt9974">145</a>
    </span>
    <span class="page-normal" id="p10081">
      <a href="025.smil#txt10083">146</a>
    </span>
    <span class="page-normal" id="p10155">
      <a href="025.smil#txt10157">147</a>
    </span>
    <span class="page-normal" id="p10212">
      <a href="025.smil#txt10214">148</a>
    </span>
    <h4 class="section" id="h10238">
      <a href="026.smil#txt10241">18.Saving and Investment Equality</a>
    </h4>
    <span class="page-normal" id="p10244">
      <a href="026.smil#txt10246">149</a>
    </span>
    <span class="page-normal" id="p10329">
      <a href="026.smil#txt10331">150</a>
    </span>
    <span class="page-normal" id="p10405">
      <a href="026.smil#txt10407">151</a>
    </span>
    <span class="page-normal" id="p10482">
      <a href="026.smil#txt10484">152</a>
    </span>
    <span class="page-normal" id="p10527">
      <a href="026.smil#txt10529">153</a>
    </span>
    <h4 class="section" id="h10543">
      <a href="027.smil#txt10546">19.The Model of National Income Determination</a>
    </h4>
    <span class="page-normal" id="p10549">
      <a href="027.smil#txt10551">154</a>
    </span>
    <span class="page-normal" id="p10584">
      <a href="027.smil#txt10586">155</a>
    </span>
    <span class="page-normal" id="p10648">
      <a href="027.smil#txt10650">156</a>
    </span>
    <span class="page-normal" id="p10719">
      <a href="027.smil#txt10721">157</a>
    </span>
    <span class="page-normal" id="p10794">
      <a href="027.smil#txt10796">158</a>
    </span>
    <span class="page-normal" id="p10849">
      <a href="027.smil#txt10851">159</a>
    </span>
    <span class="page-normal" id="p10889">
      <a href="027.smil#txt10891">160</a>
    </span>
    <h4 class="section" id="h10915">
      <a href="028.smil#txt10918">20.The Keynesian Theory of Income, Output and Employment</a>
    </h4>
    <span class="page-normal" id="p10921">
      <a href="028.smil#txt10923">161</a>
    </span>
    <span class="page-normal" id="p10965">
      <a href="028.smil#txt10967">162</a>
    </span>
    <span class="page-normal" id="p11024">
      <a href="028.smil#txt11026">163</a>
    </span>
    <h4 class="section" id="h11075">
      <a href="029.smil#txt11078">21.The Classical Vs.Keynesian Models of Income and Employment</a>
    </h4>
    <span class="page-normal" id="p11081">
      <a href="029.smil#txt11083">164</a>
    </span>
    <span class="page-normal" id="p11119">
      <a href="029.smil#txt11121">165</a>
    </span>
    <span class="page-normal" id="p11167">
      <a href="029.smil#txt11169">166</a>
    </span>
    <span class="page-normal" id="p11229">
      <a href="029.smil#txt11231">167</a>
    </span>
    <span class="page-normal" id="p11288">
      <a href="029.smil#txt11290">168</a>
    </span>
    <span class="page-normal" id="p11348">
      <a href="029.smil#txt11350">169</a>
    </span>
    <span class="page-normal" id="p11404">
      <a href="029.smil#txt11406">170</a>
    </span>
    <span class="page-normal" id="p11449">
      <a href="029.smil#txt11451">171</a>
    </span>
    <h4 class="section" id="h11468">
      <a href="030.smil#txt11471">22.Unemployment and Full Employment</a>
    </h4>
    <span class="page-normal" id="p11474">
      <a href="030.smil#txt11476">172</a>
    </span>
    <span class="page-normal" id="p11510">
      <a href="030.smil#txt11512">173</a>
    </span>
    <span class="page-normal" id="p11566">
      <a href="030.smil#txt11568">174</a>
    </span>
    <h4 class="section" id="h11620">
      <a href="031.smil#txt11623">23.Applicability of Keynes' Theory to Underdeveloped Countries</a>
    </h4>
    <span class="page-normal" id="p11626">
      <a href="031.smil#txt11628">175</a>
    </span>
    <span class="page-normal" id="p11667">
      <a href="031.smil#txt11669">176</a>
    </span>
    <span class="page-normal" id="p11707">
      <a href="031.smil#txt11709">177</a>
    </span>
    <span class="page-normal" id="p11742">
      <a href="031.smil#txt11744">178</a>
    </span>
    <span class="page-normal" id="p11808">
      <a href="031.smil#txt11810">179</a>
    </span>
    <h2 class="section" id="h11828">
      <a href="032.smil#txt11831">End of the book</a>
    </h2>
  </body>
</html>