MacroeconomicsAddison-Wesley Publishing Company, 1994 - 598 ˹éÒ |
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˹éÒ 59
... person 1965 1993 Capital goods per person 1965 1993 C 0 ( a ) United States Consumption goods per person 0 In 1965 , the production possibilities per person in the United States , part ( a ) , were much larger than those in Japan , part ...
... person 1965 1993 Capital goods per person 1965 1993 C 0 ( a ) United States Consumption goods per person 0 In 1965 , the production possibilities per person in the United States , part ( a ) , were much larger than those in Japan , part ...
˹éÒ 60
... person is more athletic than another ; another person has a quicker mind or a better memory . What one person does with ease , someone else finds difficult . Comparative Advantage : Jane Meets Joe Differences in individual abilities ...
... person is more athletic than another ; another person has a quicker mind or a better memory . What one person does with ease , someone else finds difficult . Comparative Advantage : Jane Meets Joe Differences in individual abilities ...
˹éÒ 68
... person has a comparative advantage in producing a good if that person can produce the good at a lower opportunity cost than anyone else . People can gain from trade if each specializes in the activity at which he or she has a ...
... person has a comparative advantage in producing a good if that person can produce the good at a lower opportunity cost than anyone else . People can gain from trade if each specializes in the activity at which he or she has a ...
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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