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QUANTITY DEMANDED: The specific (maximum) quantity of a good or service that buyers are willing and able to buy at a specific demand price. The emphasis here is on specific. Quantity demanded and demand price form a specific pair of numbers.
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Lesson Contents
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Unit 1: The Macroeconomy |
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Unit 2: Macro Problems |
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Unit 3: Business Cycles |
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Unit 4: Policies |
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Unit 5: Issues | |
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Macro Basics
In lesson, we move into the formal study of macroeconomics, laying the groundwork for lessons to come. In particular, this lesson introduces several important macroeconomics concepts and notions. Among the list of more important notions are the role an economy plays in the study of macroeconomics, the two key macroeconomic problems of inflation and unemployment, how these problems are related business-cycle instability, and economic stabilization policies designed to correct these problems. - The first unit of this lesson lays the foundation of for the study of macroeconomics, introducing the nature of an economy and providing a little information about the U.S. economy.
- In the second unit, we examine some of the more notable macroeconomics problems, especially production, unemployment, and inflation.
- We then take a look at the importance of business cycles in the macroeconomy, including recent trends in business cycle activity and a few potential business cycle causes.
- The fourth unit then examines the role that economic policies play in the macroeconomy.
- The firth unit wraps up this lesson with a few thoughts about the connection between political philosophies, economic policies, and economic theories.
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AGGREGATE SUPPLY SHIFTS Changes in the aggregate supply determinants shift both the short-run aggregate supply curve and the long-run aggregate supply curve. The mechanism is comparable to that for market supply determinants and market supply. There are two options--an increase in aggregate supply and a decrease in aggregate supply. An increase in resource quantity or quality or a decrease in resource price shifts one or both of the aggregate supply curves to right. A decrease in resource quantity or quality or an increase in resource price shifts one or both of the aggregate supply curves to left.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs trying to buy either a remote controlled World War I bi-plane or a wall poster commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for slightly overweight pizza delivery guys.
Your Complete Scope
This isn't me! What am I?
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"Always remember that striving and struggle precede success, even in the dictionary. " -- Sarah Ban Breathnach, writer
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MA(N)
A nth-order Moving Average Process
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