MacroeconomicsAddison-Wesley Publishing Company, 1994 - 598 ˹éÒ |
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... individual choices is made by either a market mechanism or a command mechanism . Implications of an Economic Model The implica- tions of an economic model are the equilibrium val- ues of various prices and quantities . An equilibrium is ...
... individual choices is made by either a market mechanism or a command mechanism . Implications of an Economic Model The implica- tions of an economic model are the equilibrium val- ues of various prices and quantities . An equilibrium is ...
˹éÒ 552
... individual - for whom . The production of goods and services is the objective of the economic system . But what ... individuals , entirely by the state , or by a mixture of the two . The private ownership of capital and land enables ...
... individual - for whom . The production of goods and services is the objective of the economic system . But what ... individuals , entirely by the state , or by a mixture of the two . The private ownership of capital and land enables ...
˹éÒ 583
... individual households and firms and the way in which individual markets work . Microeconomics also studies the way in which taxes and govern- ment regulation affect our economic choices . Mixed economy An economy that relies partly on ...
... individual households and firms and the way in which individual markets work . Microeconomics also studies the way in which taxes and govern- ment regulation affect our economic choices . Mixed economy An economy that relies partly on ...
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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