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=__ | I Z 0 i $1 Therefore c 0 l - ratio of reserves to earning assets _ R __ rD __ r D-R D(1—-r) ' 1-r Substitution in the previous formula yields _ (d+1)(e+l) m - d+e+de Although both the formulations are identical in a formal sense, ...
This third edition maintains the authors' accessible approach to the theory underpinning macroeconomics, with an emphasis on contemporary Australian macroeconomic policy.
This comprehensive Instructor's Manual provides valuable resources including Learning Objectives, Lecture Hints and Ideas, Suggestions for the instructor, and detailed answers to Practice Problems and End of Chapter problems.