Ec4004 Lecture17

This document describes various macroeconomic markets including goods, labor, capital, bonds, and money. It assumes households perform all economic functions, producing goods using labor and capital. Households sell goods on the goods market and buy goods for consumption or investment. The labor market sets the price for labor services supplied. The rental market sets the price for capital services supplied. The bond market allows households to borrow or lend through bonds. Money serves as the medium of exchange across all markets.