Enviar pesquisa
Carregar
Ppt econ 9e_one_click_ch20
•
Transferir como PPT, PDF
•
8 gostaram
•
939 visualizações
Muhammad Attique Shah
Seguir
Economics book slide Case and Fair a good path to learn basics of economics
Leia menos
Leia mais
Negócios
Denunciar
Compartilhar
Denunciar
Compartilhar
1 de 26
Baixar agora
Recomendados
Ppt econ 9e_one_click_ch28
Ppt econ 9e_one_click_ch28
Muhammad Attique Shah
Ppt econ 9e_one_click_ch35
Ppt econ 9e_one_click_ch35
Muhammad Attique Shah
Ppt econ 9e_one_click_ch29
Ppt econ 9e_one_click_ch29
Muhammad Attique Shah
Ppt econ 9e_one_click_ch22
Ppt econ 9e_one_click_ch22
Muhammad Attique Shah
Ppt econ 9e_one_click_ch24
Ppt econ 9e_one_click_ch24
Muhammad Attique Shah
Ppt econ 9e_one_click_ch30
Ppt econ 9e_one_click_ch30
Muhammad Attique Shah
Ppt econ 9e_one_click_ch27
Ppt econ 9e_one_click_ch27
Muhammad Attique Shah
Ppt econ 9e_one_click_ch23
Ppt econ 9e_one_click_ch23
Muhammad Attique Shah
Recomendados
Ppt econ 9e_one_click_ch28
Ppt econ 9e_one_click_ch28
Muhammad Attique Shah
Ppt econ 9e_one_click_ch35
Ppt econ 9e_one_click_ch35
Muhammad Attique Shah
Ppt econ 9e_one_click_ch29
Ppt econ 9e_one_click_ch29
Muhammad Attique Shah
Ppt econ 9e_one_click_ch22
Ppt econ 9e_one_click_ch22
Muhammad Attique Shah
Ppt econ 9e_one_click_ch24
Ppt econ 9e_one_click_ch24
Muhammad Attique Shah
Ppt econ 9e_one_click_ch30
Ppt econ 9e_one_click_ch30
Muhammad Attique Shah
Ppt econ 9e_one_click_ch27
Ppt econ 9e_one_click_ch27
Muhammad Attique Shah
Ppt econ 9e_one_click_ch23
Ppt econ 9e_one_click_ch23
Muhammad Attique Shah
Ppt econ 9e_one_click_ch25
Ppt econ 9e_one_click_ch25
Muhammad Attique Shah
Ppt econ 9e_one_click_ch33
Ppt econ 9e_one_click_ch33
Muhammad Attique Shah
Ppt econ 9e_one_click_ch21
Ppt econ 9e_one_click_ch21
Muhammad Attique Shah
Ppt econ 9e_one_click_ch32
Ppt econ 9e_one_click_ch32
Muhammad Attique Shah
Ppt econ 9e_one_click_ch18
Ppt econ 9e_one_click_ch18
Muhammad Attique Shah
Ppt econ 9e_one_click_ch31
Ppt econ 9e_one_click_ch31
Muhammad Attique Shah
Ppt econ 9e_one_click_ch15
Ppt econ 9e_one_click_ch15
Muhammad Attique Shah
Ppt econ 9e_one_click_ch14
Ppt econ 9e_one_click_ch14
Muhammad Attique Shah
Ppt econ 9e_one_click_ch06
Ppt econ 9e_one_click_ch06
Muhammad Attique Shah
Ppt econ 9e_one_click_ch13
Ppt econ 9e_one_click_ch13
Muhammad Attique Shah
Ppt econ 9e_one_click_ch01
Ppt econ 9e_one_click_ch01
Muhammad Attique Shah
Ppt econ 9e_one_click_ch12
Ppt econ 9e_one_click_ch12
Muhammad Attique Shah
Ppt econ 9e_one_click_ch11
Ppt econ 9e_one_click_ch11
Muhammad Attique Shah
Ppt econ 9e_one_click_ch16
Ppt econ 9e_one_click_ch16
Muhammad Attique Shah
Ppt econ 9e_one_click_ch19
Ppt econ 9e_one_click_ch19
Muhammad Attique Shah
Ppt econ 9e_one_click_ch03
Ppt econ 9e_one_click_ch03
Muhammad Attique Shah
Ppt econ 9e_one_click_ch05
Ppt econ 9e_one_click_ch05
Muhammad Attique Shah
Ppt econ 9e_one_click_ch17
Ppt econ 9e_one_click_ch17
Muhammad Attique Shah
Ppt econ 9e_one_click_ch07
Ppt econ 9e_one_click_ch07
Muhammad Attique Shah
Ppt econ 9e_one_click_ch10
Ppt econ 9e_one_click_ch10
Muhammad Attique Shah
Ppt econ 9e_one_click_ch09
Ppt econ 9e_one_click_ch09
Muhammad Attique Shah
Principles of economics (Chapter 7)
Principles of economics (Chapter 7)
Yowela Estanislao
Mais conteúdo relacionado
Mais procurados
Ppt econ 9e_one_click_ch25
Ppt econ 9e_one_click_ch25
Muhammad Attique Shah
Ppt econ 9e_one_click_ch33
Ppt econ 9e_one_click_ch33
Muhammad Attique Shah
Ppt econ 9e_one_click_ch21
Ppt econ 9e_one_click_ch21
Muhammad Attique Shah
Ppt econ 9e_one_click_ch32
Ppt econ 9e_one_click_ch32
Muhammad Attique Shah
Ppt econ 9e_one_click_ch18
Ppt econ 9e_one_click_ch18
Muhammad Attique Shah
Ppt econ 9e_one_click_ch31
Ppt econ 9e_one_click_ch31
Muhammad Attique Shah
Ppt econ 9e_one_click_ch15
Ppt econ 9e_one_click_ch15
Muhammad Attique Shah
Ppt econ 9e_one_click_ch14
Ppt econ 9e_one_click_ch14
Muhammad Attique Shah
Ppt econ 9e_one_click_ch06
Ppt econ 9e_one_click_ch06
Muhammad Attique Shah
Ppt econ 9e_one_click_ch13
Ppt econ 9e_one_click_ch13
Muhammad Attique Shah
Ppt econ 9e_one_click_ch01
Ppt econ 9e_one_click_ch01
Muhammad Attique Shah
Ppt econ 9e_one_click_ch12
Ppt econ 9e_one_click_ch12
Muhammad Attique Shah
Ppt econ 9e_one_click_ch11
Ppt econ 9e_one_click_ch11
Muhammad Attique Shah
Ppt econ 9e_one_click_ch16
Ppt econ 9e_one_click_ch16
Muhammad Attique Shah
Ppt econ 9e_one_click_ch19
Ppt econ 9e_one_click_ch19
Muhammad Attique Shah
Ppt econ 9e_one_click_ch03
Ppt econ 9e_one_click_ch03
Muhammad Attique Shah
Ppt econ 9e_one_click_ch05
Ppt econ 9e_one_click_ch05
Muhammad Attique Shah
Ppt econ 9e_one_click_ch17
Ppt econ 9e_one_click_ch17
Muhammad Attique Shah
Ppt econ 9e_one_click_ch07
Ppt econ 9e_one_click_ch07
Muhammad Attique Shah
Ppt econ 9e_one_click_ch10
Ppt econ 9e_one_click_ch10
Muhammad Attique Shah
Mais procurados
(20)
Ppt econ 9e_one_click_ch25
Ppt econ 9e_one_click_ch25
Ppt econ 9e_one_click_ch33
Ppt econ 9e_one_click_ch33
Ppt econ 9e_one_click_ch21
Ppt econ 9e_one_click_ch21
Ppt econ 9e_one_click_ch32
Ppt econ 9e_one_click_ch32
Ppt econ 9e_one_click_ch18
Ppt econ 9e_one_click_ch18
Ppt econ 9e_one_click_ch31
Ppt econ 9e_one_click_ch31
Ppt econ 9e_one_click_ch15
Ppt econ 9e_one_click_ch15
Ppt econ 9e_one_click_ch14
Ppt econ 9e_one_click_ch14
Ppt econ 9e_one_click_ch06
Ppt econ 9e_one_click_ch06
Ppt econ 9e_one_click_ch13
Ppt econ 9e_one_click_ch13
Ppt econ 9e_one_click_ch01
Ppt econ 9e_one_click_ch01
Ppt econ 9e_one_click_ch12
Ppt econ 9e_one_click_ch12
Ppt econ 9e_one_click_ch11
Ppt econ 9e_one_click_ch11
Ppt econ 9e_one_click_ch16
Ppt econ 9e_one_click_ch16
Ppt econ 9e_one_click_ch19
Ppt econ 9e_one_click_ch19
Ppt econ 9e_one_click_ch03
Ppt econ 9e_one_click_ch03
Ppt econ 9e_one_click_ch05
Ppt econ 9e_one_click_ch05
Ppt econ 9e_one_click_ch17
Ppt econ 9e_one_click_ch17
Ppt econ 9e_one_click_ch07
Ppt econ 9e_one_click_ch07
Ppt econ 9e_one_click_ch10
Ppt econ 9e_one_click_ch10
Destaque
Ppt econ 9e_one_click_ch09
Ppt econ 9e_one_click_ch09
Muhammad Attique Shah
Principles of economics (Chapter 7)
Principles of economics (Chapter 7)
Yowela Estanislao
Principles of economics (Chapter 1)
Principles of economics (Chapter 1)
Yowela Estanislao
Dear ISFiT ambassador
Dear ISFiT ambassador
Muhammad Attique Shah
Ppt econ 9e_one_click_ch08
Ppt econ 9e_one_click_ch08
Muhammad Attique Shah
Ppt econ 9e_one_click_ch02
Ppt econ 9e_one_click_ch02
Muhammad Attique Shah
Measuring unemployment
Measuring unemployment
Marvin Morales
Household Behavior and Consumer Choice
Household Behavior and Consumer Choice
Noel Buensuceso
Destaque
(8)
Ppt econ 9e_one_click_ch09
Ppt econ 9e_one_click_ch09
Principles of economics (Chapter 7)
Principles of economics (Chapter 7)
Principles of economics (Chapter 1)
Principles of economics (Chapter 1)
Dear ISFiT ambassador
Dear ISFiT ambassador
Ppt econ 9e_one_click_ch08
Ppt econ 9e_one_click_ch08
Ppt econ 9e_one_click_ch02
Ppt econ 9e_one_click_ch02
Measuring unemployment
Measuring unemployment
Household Behavior and Consumer Choice
Household Behavior and Consumer Choice
Semelhante a Ppt econ 9e_one_click_ch20
Introduction to macroeconomics
Introduction to macroeconomics
Umair Aslam
topic1introductiontomacroeconomics-130302220706-phpapp01.pptx
topic1introductiontomacroeconomics-130302220706-phpapp01.pptx
HiraAftab16
PPT_PRS_Econ_CH20_9e.ppt
PPT_PRS_Econ_CH20_9e.ppt
aryfakturrachmanarya
basic of eco 20
basic of eco 20
Doukan10
Intro to Macroeconomics - Book Version
Intro to Macroeconomics - Book Version
Mark Anthony
15.ppt
15.ppt
AliArslan689850
Aggregate+Expenditure+and+Equilibrium+Output.ppt
Aggregate+Expenditure+and+Equilibrium+Output.ppt
ghnb
1. Intro macro.ppt
1. Intro macro.ppt
nishesh_9698
Ppt prs micro_ch06_9e
Ppt prs micro_ch06_9e
Zeiad Ahmed
7.pptx
7.pptx
HiraAftab16
Chap._1.ppt.pdf
Chap._1.ppt.pdf
LawrenceBenito
Topic 1 introduction to macroeconomics
Topic 1 introduction to macroeconomics
cmsrahaman
Estimates of the impact of e keynesian policies in 1930 britian
Estimates of the impact of e keynesian policies in 1930 britian
TaxScout Inc.
60 fiscal policy
60 fiscal policy
sorrellp
ch03_5e.ppt
ch03_5e.ppt
AhmedLove4
The right approach to the economy
The right approach to the economy
alfredobinnie
1Macroeconomics Tutorial Map (provisional)Topics Lecture.docx
1Macroeconomics Tutorial Map (provisional)Topics Lecture.docx
felicidaddinwoodie
Slid-1 macroeconomics Chaphgfrter-1.ppt
Slid-1 macroeconomics Chaphgfrter-1.ppt
SayedSakib3
The economic impact of COVID-19
The economic impact of COVID-19
ResolutionFoundation
18.ppt
18.ppt
HiraAftab16
Semelhante a Ppt econ 9e_one_click_ch20
(20)
Introduction to macroeconomics
Introduction to macroeconomics
topic1introductiontomacroeconomics-130302220706-phpapp01.pptx
topic1introductiontomacroeconomics-130302220706-phpapp01.pptx
PPT_PRS_Econ_CH20_9e.ppt
PPT_PRS_Econ_CH20_9e.ppt
basic of eco 20
basic of eco 20
Intro to Macroeconomics - Book Version
Intro to Macroeconomics - Book Version
15.ppt
15.ppt
Aggregate+Expenditure+and+Equilibrium+Output.ppt
Aggregate+Expenditure+and+Equilibrium+Output.ppt
1. Intro macro.ppt
1. Intro macro.ppt
Ppt prs micro_ch06_9e
Ppt prs micro_ch06_9e
7.pptx
7.pptx
Chap._1.ppt.pdf
Chap._1.ppt.pdf
Topic 1 introduction to macroeconomics
Topic 1 introduction to macroeconomics
Estimates of the impact of e keynesian policies in 1930 britian
Estimates of the impact of e keynesian policies in 1930 britian
60 fiscal policy
60 fiscal policy
ch03_5e.ppt
ch03_5e.ppt
The right approach to the economy
The right approach to the economy
1Macroeconomics Tutorial Map (provisional)Topics Lecture.docx
1Macroeconomics Tutorial Map (provisional)Topics Lecture.docx
Slid-1 macroeconomics Chaphgfrter-1.ppt
Slid-1 macroeconomics Chaphgfrter-1.ppt
The economic impact of COVID-19
The economic impact of COVID-19
18.ppt
18.ppt
Último
Yaroslav Rozhankivskyy: Три складові і три передумови максимальної продуктивн...
Yaroslav Rozhankivskyy: Три складові і три передумови максимальної продуктивн...
Lviv Startup Club
VIP Kolkata Call Girl Howrah 👉 8250192130 Available With Room
VIP Kolkata Call Girl Howrah 👉 8250192130 Available With Room
divyansh0kumar0
Grateful 7 speech thanking everyone that has helped.pdf
Grateful 7 speech thanking everyone that has helped.pdf
Paul Menig
Tech Startup Growth Hacking 101 - Basics on Growth Marketing
Tech Startup Growth Hacking 101 - Basics on Growth Marketing
Shawn Pang
GD Birla and his contribution in management
GD Birla and his contribution in management
chhavia330
Insurers' journeys to build a mastery in the IoT usage
Insurers' journeys to build a mastery in the IoT usage
Matteo Carbone
Call Girls Pune Just Call 9907093804 Top Class Call Girl Service Available
Call Girls Pune Just Call 9907093804 Top Class Call Girl Service Available
Dipal Arora
KYC-Verified Accounts: Helping Companies Handle Challenging Regulatory Enviro...
KYC-Verified Accounts: Helping Companies Handle Challenging Regulatory Enviro...
Any kyc Account
It will be International Nurses' Day on 12 May
It will be International Nurses' Day on 12 May
NZSG
Best VIP Call Girls Noida Sector 40 Call Me: 8448380779
Best VIP Call Girls Noida Sector 40 Call Me: 8448380779
Delhi Call girls
Forklift Operations: Safety through Cartoons
Forklift Operations: Safety through Cartoons
Forklift Trucks in Minnesota
Russian Faridabad Call Girls(Badarpur) : ☎ 8168257667, @4999
Russian Faridabad Call Girls(Badarpur) : ☎ 8168257667, @4999
Tina Ji
Cash Payment 9602870969 Escort Service in Udaipur Call Girls
Cash Payment 9602870969 Escort Service in Udaipur Call Girls
Apsara Of India
Unlocking the Secrets of Affiliate Marketing.pdf
Unlocking the Secrets of Affiliate Marketing.pdf
Online Income Engine
Call Girls In Panjim North Goa 9971646499 Genuine Service
Call Girls In Panjim North Goa 9971646499 Genuine Service
ritikaroy0888
Regression analysis: Simple Linear Regression Multiple Linear Regression
Regression analysis: Simple Linear Regression Multiple Linear Regression
Ravindra Nath Shukla
Best Basmati Rice Manufacturers in India
Best Basmati Rice Manufacturers in India
Shree Krishna Exports
A DAY IN THE LIFE OF A SALESMAN / WOMAN
A DAY IN THE LIFE OF A SALESMAN / WOMAN
IlamathiKannappan
Progress Report - Oracle Database Analyst Summit
Progress Report - Oracle Database Analyst Summit
Holger Mueller
VVVIP Call Girls In Greater Kailash ➡️ Delhi ➡️ 9999965857 🚀 No Advance 24HRS...
VVVIP Call Girls In Greater Kailash ➡️ Delhi ➡️ 9999965857 🚀 No Advance 24HRS...
Call Girls In Delhi Whatsup 9873940964 Enjoy Unlimited Pleasure
Último
(20)
Yaroslav Rozhankivskyy: Три складові і три передумови максимальної продуктивн...
Yaroslav Rozhankivskyy: Три складові і три передумови максимальної продуктивн...
VIP Kolkata Call Girl Howrah 👉 8250192130 Available With Room
VIP Kolkata Call Girl Howrah 👉 8250192130 Available With Room
Grateful 7 speech thanking everyone that has helped.pdf
Grateful 7 speech thanking everyone that has helped.pdf
Tech Startup Growth Hacking 101 - Basics on Growth Marketing
Tech Startup Growth Hacking 101 - Basics on Growth Marketing
GD Birla and his contribution in management
GD Birla and his contribution in management
Insurers' journeys to build a mastery in the IoT usage
Insurers' journeys to build a mastery in the IoT usage
Call Girls Pune Just Call 9907093804 Top Class Call Girl Service Available
Call Girls Pune Just Call 9907093804 Top Class Call Girl Service Available
KYC-Verified Accounts: Helping Companies Handle Challenging Regulatory Enviro...
KYC-Verified Accounts: Helping Companies Handle Challenging Regulatory Enviro...
It will be International Nurses' Day on 12 May
It will be International Nurses' Day on 12 May
Best VIP Call Girls Noida Sector 40 Call Me: 8448380779
Best VIP Call Girls Noida Sector 40 Call Me: 8448380779
Forklift Operations: Safety through Cartoons
Forklift Operations: Safety through Cartoons
Russian Faridabad Call Girls(Badarpur) : ☎ 8168257667, @4999
Russian Faridabad Call Girls(Badarpur) : ☎ 8168257667, @4999
Cash Payment 9602870969 Escort Service in Udaipur Call Girls
Cash Payment 9602870969 Escort Service in Udaipur Call Girls
Unlocking the Secrets of Affiliate Marketing.pdf
Unlocking the Secrets of Affiliate Marketing.pdf
Call Girls In Panjim North Goa 9971646499 Genuine Service
Call Girls In Panjim North Goa 9971646499 Genuine Service
Regression analysis: Simple Linear Regression Multiple Linear Regression
Regression analysis: Simple Linear Regression Multiple Linear Regression
Best Basmati Rice Manufacturers in India
Best Basmati Rice Manufacturers in India
A DAY IN THE LIFE OF A SALESMAN / WOMAN
A DAY IN THE LIFE OF A SALESMAN / WOMAN
Progress Report - Oracle Database Analyst Summit
Progress Report - Oracle Database Analyst Summit
VVVIP Call Girls In Greater Kailash ➡️ Delhi ➡️ 9999965857 🚀 No Advance 24HRS...
VVVIP Call Girls In Greater Kailash ➡️ Delhi ➡️ 9999965857 🚀 No Advance 24HRS...
Ppt econ 9e_one_click_ch20
1.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 1 of 24 PowerPoint Lectures for Principles of Economics, 9e By Karl E. Case, Ray C. Fair & Sharon M. Oster ; ;
2.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 2 of 24
3.
© 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 20 PART IV CONCEPTS AND PROBLEMS IN MACROECONOMICS Introduction to Macroeconomics Fernando & Yvonn Quijano Prepared by:
4.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 4 of 24 20 Macroeconomic Concerns Output Growth Unemployment Inflation and Deflation The Components of the Macroeconomy The Circular Flow Diagram The Three Market Arenas The Role of the Government in the Macroeconomy A Brief History of Macroeconomics The U.S. Economy Since 1970 CHAPTER OUTLINE Introduction to Macroeconomics PART IV CONCEPTS AND PROBLEMS IN MACROECONOMICS
5.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 5 of 24 Introduction to Macroeconomics microeconomics Examines the functioning of individual industries and the behavior of individual decision-making units—firms and households. macroeconomics Deals with the economy as a whole. Macroeconomics focuses on the determinants of total national income, deals with aggregates such as aggregate consumption and investment, and looks at the overall level of prices instead of individual prices. aggregate behavior The behavior of all households and firms together. sticky prices Prices that do not always adjust rapidly to maintain equality between quantity supplied and quantity demanded.
6.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 6 of 24 Macroeconomic Concerns Three of the major concerns of macroeconomics are Output growth Unemployment Inflation and deflation
7.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 7 of 24 Macroeconomic Concerns Output Growth business cycle The cycle of short-term ups and downs in the economy. aggregate output The total quantity of goods and services produced in an economy in a given period. recession A period during which aggregate output declines. Conventionally, a period in which aggregate output declines for two consecutive quarters. depression A prolonged and deep recession.
8.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 8 of 24 Macroeconomic Concerns Output Growth expansion or boom The period in the business cycle from a trough up to a peak during which output and employment grow. contraction, recession, or slump The period in the business cycle from a peak down to a trough during which output and employment fall.
9.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 9 of 24 Macroeconomic Concerns Output Growth FIGURE 20.1 A Typical Business Cycle In this business cycle, the economy is expanding as it moves through point A from the trough to the peak. When the economy moves from a peak down to a trough, through point B, the economy is in recession.
10.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 10 of 24 Macroeconomic Concerns Output Growth FIGURE 20.2 U.S. Aggregate Output (Real GDP), 1900–2007 The periods of the Great Depression and World Wars I and II show the largest fluctuations in aggregate output.
11.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 11 of 24 Macroeconomic Concerns Unemployment unemployment rate The percentage of the labor force that is unemployed. Inflation and Deflation inflation An increase in the overall price level. hyperinflation A period of very rapid increases in the overall price level. deflation A decrease in the overall price level.
12.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 12 of 24 The Components of the Macroeconomy Macroeconomics focuses on four groups. To see the big picture, it is helpful to divide the participants in the economy into four broad groups: (1) households, (2) firms, (3) the government, and (4) the rest of the world.
13.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 13 of 24 The Components of the Macroeconomy The Circular Flow Diagram circular flow A diagram showing the income received and payments made by each sector of the economy. transfer payments Cash payments made by the government to people who do not supply goods, services, or labor in exchange for these payments. They include Social Security benefits, veterans’ benefits, and welfare payments.
14.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 14 of 24 The Components of the Macroeconomy The Circular Flow Diagram FIGURE 20.3 The Circular Flow of Payments Households receive income from firms and the government, purchase goods and services from firms, and pay taxes to the government. They also purchase foreign-made goods and services (imports). Firms receive payments from households and the government for goods and services; they pay wages, dividends, interest, and rents to households and taxes to the government. The government receives taxes from firms and households, pays firms and households for goods and services—including wages to government workers—and pays interest and transfers to households. Finally, people in other countries purchase goods and services produced domestically (exports). Note: Although not shown in this diagram, firms and governments also purchase imports.
15.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 15 of 24 The Components of the Macroeconomy The Three Market Arenas Another way of looking at the ways households, firms, the government, and the rest of the world relate to each other is to consider the markets in which they interact. We divide the markets into three broad arenas: (1) the goods-and-services market, (2) the labor market, and (3) the money (financial) market.
16.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 16 of 24 The Components of the Macroeconomy The Three Market Arenas Goods-and-Services Market Firms supply to the goods-and-services market. Households, the government, and firms demand from this market. Labor Market In this market, households supply labor and firms and the government demand labor.
17.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 17 of 24 The Components of the Macroeconomy The Three Market Arenas Money Market Households supply funds to this market in the expectation of earning income in the form of dividends on stocks and interest on bonds. Firms, the government, and the rest of the world also engage in borrowing and lending which is coordinated by financial institutions.
18.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 18 of 24 The Components of the Macroeconomy The Three Market Arenas Money Market Treasury bonds, notes, and bills Promissory notes issued by the federal government when it borrows money. corporate bonds Promissory notes issued by firms when they borrow money. shares of stock Financial instruments that give to the holder a share in the firm’s ownership and therefore the right to share in the firm’s profits. dividends The portion of a firm’s profits that the firm pays out each period to its shareholders.
19.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 19 of 24 The Components of the Macroeconomy The Role of the Government in the Macroeconomy fiscal policy Government policies concerning taxes and spending. monetary policy The tools used by the Federal Reserve to control the quantity of money, which in turn affects interest rates.
20.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 20 of 24 A Brief History of Macroeconomics Great Depression The period of severe economic contraction and high unemployment that began in 1929 and continued throughout the 1930s. fine-tuning The phrase used by Walter Heller to refer to the government’s role in regulating inflation and unemployment. stagflation A situation of both high inflation and high unemployment.
21.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 21 of 24 A Brief History of Macroeconomics Macroeconomics in Literature The Great Gatsby The Grapes of Wrath The underlying phenomena that economists study are the stuff of novels as well as graphs and equations.
22.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 22 of 24 The U.S Economy Since 1970 FIGURE 20.4 Aggregate Output (Real GDP), 1970 I–2007 IV Aggregate output in the United States since 1970 has risen overall, but there have been four recessionary periods: 1974 I–1975 IV, 1980 II–1983 I, 1990 III–1991 I, and 2001 I–2001 III.
23.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 23 of 24 The U.S Economy Since 1970 FIGURE 20.5 Unemployment Rate, 1970 I–2007 IV The U.S. unemployment rate since 1970 shows wide variations. The four recessionary reference periods show increases in the unemployment rate.
24.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 24 of 24 The U.S Economy Since 1970 FIGURE 20.6 Inflation Rate (Percentage Change in the GDP Deflator, Four-Quarter Average), 1970 I–2007 IV Since 1970, inflation has been high in two periods: 1973 IV–1975 IV and 1979 I–1981 IV. Inflation between 1983 and 1992 was moderate. Since 1992, it has been fairly low.
25.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 25 of 24 The U.S Economy Since 1970 John Maynard Keynes Much of the framework of modern macroeconomics comes from the works of John Maynard Keynes, whose General Theory of Employment, Interest and Money was published in 1936.
26.
CHAIntroductiontoMacr © 2009 Pearson
Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster 26 of 24 aggregate behavior aggregate output business cycle circular flow contraction, recession, or slump corporate bonds deflation depression dividends expansion or boom fine-tuning fiscal policy Great Depression hyperinflation inflation macroeconomics microeconomics monetary policy recession shares of stock stagflation sticky prices transfer payments Treasury bonds, notes, and bills unemployment rate REVIEW TERMS AND CONCEPTS
Baixar agora