10. According to the misperceptions theory of aggregate supply, if a firm thought that inflation was going to be 5 percent and actual inflation was 6 percent, then the firm would believe that the relative price of what it produce had a. increased, so it would increase production. b. incre...
Chapter5AggregateSupplyandDemand ChapterHighlights Outputandpricesaredeterminedbyaggregatesupplyanddemand.Intheshortrun,theaggregatesupplycurveisflat.Inthelongrun,theaggregatesupplycurveisvertical.Itisupwardslopinginthemediumrun.ChapterHighlights Theaggregatesupplycurvedescribesthepriceadjustment...
Answer to: 1. Define aggregate supply and aggregate demand and explain their relationship. 2. Explain any two factors that cause a shift in...
andaggregate demand. Microeconomic models describe supply and demand in terms of quantity and price, how one changes in response to the other, all relevant factors being equal, or as economists are fond of saying,ceteris paribus. Macroeconomic models, on the other hand, model how several key va...
aggregatedemandsupplyrightwardcurveshifts 系统标签: aggregatedemandsupplyrightwardcurveshifts 1AggregatedemandandAggregateSupply(ADandAS) noticethedata:whilepotentialGDPtendstomoveupwardyrafteryr,duetoeconomicgrowth,actualGDPtendstoriseaboveandfallbelowpotentialovershorterperiods Daterevealsanimportantfact:Deviationsfrom...
2.2.1Aggregatedemand2.2.2Aggregatesupply2.2.3Equilibrium 2.2.1Aggregatedemand •Aggregatedemand(AD)isthesumoftotalplannedexpendituresbyhouseholds,firms,governmentandforeignsectorinaperiodoftimeatgivenpricelevels.•AD=C+I+G+(X-M)•ADisaplannedconceptwhileGDPisarealized(actual)outputfigure The...
3.modelofaggregatedemandandaggregatesupply总需求与总供给模型是大多数经济学家用来解释经济活动围绕其长期趋势的短期波动的模型。该模型包含产量和物价总水平两个变量,总需求曲线表示在每一种物价水平家庭、企业和政府想要购买的物品劳务量,总供给曲线表示在每一种物价水平企业选择生产销售的物品劳务量,物价水平与产量的...
How does the model of aggregate demand and aggregate supply explain economic fluctuations? Why does the Aggregate-Demand curve slope downward? What shifts the AD curve? What is the slope of the Aggregate-Supply curve in the short run? In the long run? What shifts the AS curve(s)?
What are their characteristics?How does the model of aggregate demand and aggregate supply explain economic fluctuations?Why does the Aggregate-Demand curve slope downward? What shifts the AD curve?What is the slope of the Aggregate-Supply 2、curve in the short run? In the long run? What ...
An illustrated tutorial on aggregate demand and its components: consumption, investment, government purchases, and net exports.