MacroeconomicsAddison-Wesley Publishing Company, 1994 - 598 ˹éÒ |
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˹éÒ 171
... occurs when the quantity of real GDP demanded equals the quan- tity of real GDP supplied . Let's see how macroeco- nomic equilibrium is determined . Determination of Real GDP and the Price Level FIGURE 7.7 MACROECONOMIC EQUILIBRIUM ...
... occurs when the quantity of real GDP demanded equals the quan- tity of real GDP supplied . Let's see how macroeco- nomic equilibrium is determined . Determination of Real GDP and the Price Level FIGURE 7.7 MACROECONOMIC EQUILIBRIUM ...
˹éÒ 173
... occurs at a level of real GDP below long - run GDP . In such an equi- librium , there is a recessionary gap . The unemploy- ment equilibrium illustrated in Fig . 7.8 ( b ) occurs where aggregate demand curve AD intersects short- run ...
... occurs at a level of real GDP below long - run GDP . In such an equi- librium , there is a recessionary gap . The unemploy- ment equilibrium illustrated in Fig . 7.8 ( b ) occurs where aggregate demand curve AD intersects short- run ...
˹éÒ 181
... occurs when the quan- tity of real GDP demanded equals the quantity of real GDP supplied . Macroeconomic equilibrium occurs at the intersection of the aggregate demand curve and the short - run aggregate supply curve . The price level ...
... occurs when the quan- tity of real GDP demanded equals the quantity of real GDP supplied . Macroeconomic equilibrium occurs at the intersection of the aggregate demand curve and the short - run aggregate supply curve . The price level ...
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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