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A story of macroeconomics

2020-06-02 来源: 51Due教员组 类别: 留学资讯

网课代修,网课代写,作业代写,北美代写,代写

下面为大家整理一篇优秀的essay代写范文 -- A story of macroeconomics,文章讲述从上面的I_pencil文章摘录中,很明显地发现了总供给曲线与价格调整机制之间的关系。总供给曲线描述了经济学中价格调整机制的一般概念。下图显示了总供给曲线如何影响价格调整机制。首先,我们将劳动力充分就业的收益水平与潜在的GDP相对应,在公式中标记为Y *。然后,AS曲线描述了经济体内的价格调整机制。

 

 

A story of macroeconomics

Mail delivery is exceedingly simple when compared, for instance, to the making of an automobile or a calculating machine or a grain combine or a milling machine or to tens of thousands of other things. Delivery? Why, in this area where men have been left free to try, they deliver the human voice around the world in less than one second; they deliver an event visually and in motion to any person’s home when it is happening; they deliver 150 passengers from Seattle to Baltimore in less than four hours; they deliver gas from Texas to one’s range or furnace in New York at unbelievably low rates and without subsidy; they deliver each four pounds of oil from the Persian Gulf to our Eastern Seaboard—halfway around the world—for less money than the government charges for delivering a one-ounce letter across the street! Lwonard E.Read

From above excerpts from the article named I_pencil, it is obvious to find out relationship between aggregate-supply curve and price adjustment mechanism. The aggregate-supply curve describes general concept of price adjustment mechanism in economics. Here is a figure shows how the aggregate-supply curve influences price adjustment mechanism. First of all, 

图片1.png

we correspond yield level in labour full employment into potential GDP, marking as Y* in formulas. Then, AS curve describes the price adjustment mechanism within the economy. The black thick line in figure experiences flat short-term aggregate supply curve, while the gray line shows the vertical long-run aggregate supply curve. In addition, the picture displays all the series of medium-term aggregate supply curve. In the practical application, if output is above potential(Y>Y*), prices will increase and be higher next period. However, if output is below potential(Y<Y*), prices will fall and be lower next period, and prices will continue to rise/fall over time until Y=Y*. According to these economic formulas, we can simply summarize that because the output is higher than potential in free product, less money can be cost in making an automobile than the government charges for delivering a one-ounce letter across the street.


 

 

Reference

Leonard E.Read,  I, Pencil,  April 1998

 

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