National Income in the Long Run

 

  1. Production from Production Function
    1. Constant Returns to Scale
    2. Diminishing Returns
  2. Distribution from Marginal Products
    1. Microeconomic Factor Markets
    2. Euler�s Theorem
    3. Implications for Distribution
  3. Components of Expenditure
    1. Consumption Function
    2. Investment
  4. Equilibrium
    1. Goods Market
    2. Loanable Funds Market