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Questions and Answers
What is central to standards of living in the long run?
Why is it important to understand how consumption and investment are determined?
What do consumption and investment make up the vast majority of?
Why are consumption and investment important for growth?
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Which type of investment is NOT mentioned as being central to standards of living?
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What has been a focus in recent decades concerning macroeconomics empirical work?
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What is the fundamental macroeconomic accounting identity that states saving equals investment?
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In economics, what does capital generally refer to?
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What is the main equilibrium equation derived from the intertemporal maximization problem discussed in the text?
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What is the subjective discount factor defined as in the context of intertemporal choice?
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What does the Euler equation represent in the context of intertemporal choice?
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In macroeconomics, what is defined as investment spending?
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