The objective of this chapter is to determine the level of national income in the short and medium term. For this, it is necessary to consider the simultaneous equilibrium on all markets (goods and services, money, labor).

The purpose of this chapter is to study the relationship between inflation and unemployment. At first glance, these are two phenomena with no obvious link, this is indeed true in the long term but in the short term, it can be shown that there is an inverse relationship between inflation and unemployment.

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