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Abstract
In Chapter 3, Expectations (19 pages), the author discusses expectations - the third of three pillars that make up his description of the fundamentals of macroeconomics. The author examines inflation and ways to control it. He looks at how to manage declines in output through monetary policy and fiscal policy and reviews Keynesian fiscal policy. He also examines interest rates and exchange rates in relation to expectations.
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Abstract
In Chapter 3, Expectations (19 pages), the author discusses expectations - the third of three pillars that make up his description of the fundamentals of macroeconomics. The author examines inflation and ways to control it. He looks at how to manage declines in output through monetary policy and fiscal policy and reviews Keynesian fiscal policy. He also examines interest rates and exchange rates in relation to expectations.