2. FIGURE 12.1 The Aggregate Macroeconomic Model

3. FIGURE 12.2 Consumer Sentiment and the Unemployment Rate

4. FIGURE 12.3 Stock Market Returns

5. EQUATION 12.1 The Components of Aggregate Expenditure

6. EQUATION 12.2 The Components of Aggregate Expenditure

7. FIGURE 12.4 The Components of Aggregate Expenditure

8. FIGURE 12.5 Resource Utilization and Constraints

9. FIGURE 12.6 Housing Starts and Mortgage Rates

10. EQUATION 12.3 Gross Private Domestic Investment Expenditure

11. EQUATION 12.4 Gross Private Domestic Investment Expenditure

12. FIGURE 12.7 Federal Government Budget

13. EQUATION 12.5 Government Expenditure

14. EQUATION 12.6 Government Expenditure

15. EQUATION 12.7 Net Export Expenditure

16. EQUATION 12.8 Net Export Expenditure

17. TABLE 12.1 Effect of Dollar Depreciation on Exports and Imports

18. TABLE 12.2 Effect of Dollar Appreciation on Exports and Imports

19. EQUATION 12.9 Net Export Expenditure

20. EQUATION 12.10 Net Export Expenditure

21. EQUATION 12.11 Aggregate Expenditure

22. EQUATION 12.12 Aggregate Expenditure

23. EQUATION 12.13 Aggregate Expenditure

24. FIGURE 12.8 Aggregate Expenditure Function

25. EQUATION 12.14 Equilibrium Level of Income and Output

26. TABLE 12.3 Equilibrium in the Open, Mixed Economy Model

27. EQUATION 12.15 Equilibrium Level of Income and Output

28. FIGURE 12.9 Equilibrium Level of Income

29. FIGURE 12.10 Changes in Equilibrium

30. TABLE 12.4 Factors Causing Changes in Aggregate Expenditure (E)and Equilibrium Income (Y) (Derived from Equation 12.12)

31. EQUATION 12.16 - 12.19 Equilibrium Level of Income and Output

32. EQUATION 12.20 Equilibrium Level of Income and Output

33. FIGURE 12.11 Interest-Related Expenditure and Equilibrium in the Real Goods Market

34. TABLE 12.A1 Equilibrium in a Mixed, Open Economy (billions $)

35. TABLE 12.A2 Changes in Aggregate Expenditure and Equilibrium Income and Output in a Mixed, Open Economy (Based on Model in Table 12.A1—billions $)