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What is IS-LM Model of Income Determination about?

The document discusses the IS-LM model, which analyzes equilibrium in the goods market (IS curve) and money market (LM curve) simultaneously. It defines the components of aggregate demand that determine the IS curve such as consumption, investment, government spending, taxes. It also discusses factors that determine the demand and supply of money in the money market to derive the LM curve. The intersection of the IS and LM curves gives the equilibrium interest rate and level of income in the economy. Two ex

Author

Dixith Gandhe

Language

EN