(BQ) Part 2 book "Macroeconomics" has contents: Monetary policy, fiscal policy, macroeconomics in an open economy, the international financial system; inflation, unemployment, and federal reserve policy; aggregate demand and aggregate supply analysis. | Chapter 12 Chapter Outline and Learning Objectives The Aggregate Expenditure Model, page 372 Understand how macroeconomic equilibrium is determined in the aggregate expenditure model. Determining the Level of Aggregate Expenditure in the Economy, page 375 Discuss the determinants of the four components of aggregate expenditure and define marginal propensity to consume and marginal propensity to save. Graphing Macroeconomic Equilibrium, page 387 Use a 45°-line diagram to illustrate macroeconomic equilibrium. The Multiplier Effect, page 394 Describe the multiplier effect and use the multiplier formula to calculate changes in equilibrium GDP. The Aggregate Demand Curve, page 401 Understand the relationship between the aggregate demand curve and aggregate expenditure. Appendix: The Algebra of Macroeconomic Equilibrium, page 410 Apply the algebra of macroeconomic equilibrium. Aggregate Expenditure and Output in the Short Run Fluctuating Demand Helps— and Hurts—Intel and Other Firms Robert Noyce and Gordon Moore founded Intel in 1968. Today, the company is the world’s largest semiconductor manufacturer and a major supplier of the microprocessors and memory chips that power desktop and laptop computers sold by Dell, Apple, Lenovo, Hewlett-Packard, and other computer manufacturers. To this point, Intel’s success has depended on the health of the computer market. As a result, the firm faces two problems: First, in the past few years, sales of computers have declined because many consumers and some businesses have switched to using tablets and smartphones to access the Internet. Second, Intel is vulnerable to the swings of the business cycle because sales of computers rise during economic expansions and fall during recessions. Intel was particularly hurt by the 2007–2009 recession. During the last quarter of 2008, Intel’s revenues fell 90 percent, and it laid off 6,000 workers. Intel bounced back in .
