英文版宏观经济学复习提纲 Chapter 9 Aggregate demand and aggregate supply analysis

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1、9AggregateDemandandAggregateSupplyAnalysisChapterSummaryAstheeconomymovesthroughtime,wegenerallyobservethatpricesrise(wehaveinflation)andrealGDPincreases(wehaveeconomicgrowth).TheequilibriumpricelevelandrealGDParedeterminedbyaggregatedemandandaggregatesupply.Aggregatedemandshowstherelationshipbetw

2、eenthepricelevelandthequantityofrealGDPdemandedbyhouseholds,firms,andthegovernment.AggregatesupplyshowstherelationshipbetweenthepricelevelandthequantityofrealGDPthatfirmsarewillingtoproduce.ThischapterlooksathowaggregatedemandandaggregatesupplydeterminetheequilibriumthelevelofrealGDPandthepricelev

3、el,andhowchangesinaggregatedemandandaggregatesupplychangethepricelevelandthelevelofrealGDP.Thechapteralsousestheaggregatedemandandaggregatesupplymodeltolookatinflationandrecessions.LearningObjectivesWhenyoufinishthischapteryoushouldbeableto:1.Discussthedeterminantsofaggregatedemand,anddistinguishb

4、etweenamovementalongtheaggregatedemandcurveandashiftofthecurve.Theaggregatedemandandaggregatesupplymodelenablesustoexplainshort-runfluctuationsinrealGDPandthepricelevel.Theaggregatedemandcurve(AD)showstherelationshipbetweenthepricelevelandthequantityofrealGDPdemandedbyhouseholds,firms,andthegovern

5、ment.Theshort-runaggregatesupplycurve(SRAS)showstherelationshipintheshortrunbetweenthepricelevelandthequantityofrealGDPsuppliedbyfirms.Thelong-runaggregatesupplycurveshowstherelationshipinthelongrunbetweenthepricelevelandthequantityofrealGDPsupplied.Thefourcomponentsofaggregatedemandareconsumption

6、(C),investment(I),governmentpurchases(G),andnetexports(NX).Theaggregatedemandcurveisdownwardslopingbecauseadeclineinthepricelevelcausesrealconsumption,investmentandnetexportstoincrease.Ifthepricelevelchangesbutallelseremainsconstant,theeconomywillmoveupordownastationaryaggregatedemandcurve.Ifanyva

7、riableotherthanthepricelevelchanges,theaggregatedemandcurvewillshift.Thevariablesthatcausetheaggregatedemandcurvetoshiftfallintothreecategories:changesingovernmentpolicies,changesintheexpectationsofhouseholdsandf