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New Classical Macroeconomics Articles;

New Classical Macroeconomics

"New classical macroeconomics" (NCM) uses the standard principles of economic analysis to understand how a nation's total output (gross domestic product, or GDP) is determined. In the NCM view supply and demand result from the actions of economically rational households and firms. Macroeconomic quantities like GDP are the result of the general equilibrium of the markets in an economy.

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