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Published in:
1974 | OriginalPaper | Chapter
The Investment Function
Author : D. C. Rowan
Published in: Output, Inflation and Growth
Publisher: Macmillan Education UK
Included in: Professional Book Archive
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In Chapter 9 we showed that if we knew (i)the propensity-to-consume schedule; and(ii)the rate of real planned investment we could determine the equilibrium level of output and hence, via the production function, the equilibrium level of employment. We also demonstrated that the equilibrium level of output (= income) was stable.†