|
Читайте также: |
The recurring and fluctuating levels of economic activity that an economy experiences over a long period of time. The four stages of the business cycle are peak, recession (contraction), trough and recovery.
the starting date of each recession, called the business cycle peak,
and the ending date, called the business cycle trough.
Crowding out is a phenomenon occurring when expansionary fiscal policy (IS shifts to the right) causes interest rates to rise, thereby reducing investment spending. That means increase in government spending 'crowds out' investment spending, the extent of crowding out is greater the more interest rate increases when government spending rises.(not full as in Keynesian cross)
Deflation deflation is a decrease in the general price level of goods and services.[1] Deflation occurs when the inflation rate falls below 0% (a negative inflation rate). deflation increases the real value of money – the currency of a national or regional economy. This allows one to buy more goods with the same amount of money over time.
Economic Growth To measure economic growth, economists use data on gross domestic product,
which measures the total income of everyone in the economy
Exponential Growth- growth whose rate becomes ever more rapid in proportion to the growing total number or size.(quadratic function, as independent variable doubled, the dependent variable quadrupled)
Fiscal policy- is the use of government revenue collection (taxation) and expenditure (spending) to influence the economy.[1] The two main instruments of fiscal policy are government taxation and changes in the level and composition of taxation and government spending can affect the economy:
Fixed Exchange Rate- a type of exchange rate regime where a currency's value is fixed against the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold
Floating Exchange Rate- a type of exchange rate regime wherein a currency's value is allowed to fluctuate according to the foreign exchange market.
Frictional unemployment- is the time period between jobs when a worker is searching for, or transitioning from one job to another. It is sometimes called search unemployment and can be voluntary based on the circumstances of the unemployed individual. Frictional unemployment is always present in an economy, so the level of involuntary unemployment is properly the unemployment rate minus the rate of frictional unemployment
GDP- is the market value of all final goods and services produced
within an economy in a given period of time (the total income of everyone in the economy. And the total expenditure on the economy’s output of goods and services.). GDP=I+G+C+NX
Golden Rule level of capital- accumulation is the steady state(the stock of capital at which investment and depreciation just offset each other) with the highest level of consumption
Government debt is What a government borrows to ensure it can finance all its planned expenditure. (and plug its budget deficit). If a government is running a budget surplus, it should not in principle need to increase its debt. A government will normally borrow money by issuing bonds or other securities. Rather than issuing paper, the government of a developing country with low credit ratings may need to negotiate loans from foreign governments, institutions such as the World Bank or overseas bank creditors.
Government-purchases Multiplier tells us how much income
rises in response to a $1 increase in government purchases. An implication of the
Keynesian cross is that the government-purchases multiplier is larger than 1.
Inflation- is a rise in the general level of prices of goods and services in an economy over a period of time.[1] When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects an erosion in the purchasing power of money
Investment is expenditure on new plant and equipment, and it
causes the capital stock to rise.
IS curve IS stands for “investment’’ and “saving,’’ shows the combinations of the interest rate and the level of income that are consistent with equilibrium in the market for goods and services. The IS curve is drawn for a given fiscal policy. Changes in fiscal policy that raise the demand for goods and services shift the IS curve to the right. Changes in fiscal policy that reduce the demand for goods and services shift the IS curve to the left. Y = C (Y - T) + I (r) + G
Дата добавления: 2015-09-11; просмотров: 80 | Поможем написать вашу работу | Нарушение авторских прав |