MacroeconomicsAddison-Wesley Publishing Company, 1994 - 598 ˹éÒ |
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˹éÒ 292
... higher the income — the larger is the quantity of money demanded . Again , suppose that you hold an average of $ 20 to finance your weekly purchases of movies and soda . Now imagine that prices remain constant but that your income ...
... higher the income — the larger is the quantity of money demanded . Again , suppose that you hold an average of $ 20 to finance your weekly purchases of movies and soda . Now imagine that prices remain constant but that your income ...
˹éÒ 348
... higher real wage rate increases the opportunity cost of time and makes time itself a more valuable commodity . This higher opportunity cost of not working encourages people to reduce their nonwork time and increase the time spent ...
... higher real wage rate increases the opportunity cost of time and makes time itself a more valuable commodity . This higher opportunity cost of not working encourages people to reduce their nonwork time and increase the time spent ...
˹éÒ 391
... higher price level and higher real GDP . If the original source of cost - push inflation is still present , costs rise again and the short - run aggregate supply curve shifts to the left again . If the Fed or the gov- ernment responds ...
... higher price level and higher real GDP . If the original source of cost - push inflation is still present , costs rise again and the short - run aggregate supply curve shifts to the left again . If the Fed or the gov- ernment responds ...
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$1 trillion aggre aggregate demand curve aggregate expenditure aggregate planned expenditure aggregate supply curve amount autonomous expenditure banks billion hours business cycle capital CHAPTER consume consumption expenditure curve for real decrease deficit deposits dollars economists equal equilibrium expenditure example exports factors factors of production fall Federal Reserve Figure firms fiscal policy fluctuations forecast GDP deflator government purchases graph growth higher households labor curve labor force labor market long-run aggregate supply macroeconomic ment million tapes monetary policy money multiplier money supply money wage rate multiplier natural rate OPEC open market operation opportunity cost output Phillips curve price level production possibility frontier quantity demanded quantity of labor quantity of money quantity of real quantity supplied rational expectations Real GDP trillions real wage rate recession relationship rises short-run aggregate supply slope tapes a week taxes tion trillions of 1987 U.S. economy unem unemployment rate