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MACROECONOMIC POLICY: Government policy aimed at the aggregate economy, usually to promote the macro goals of full employment, stability, and growth. Common macroeconomic policies are fiscal and monetary.

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Lesson 7: Market Equilibrium | Unit 2: The Numbers Page: 7 of 22

Topic: Market Agreement <=PAGE BACK | PAGE NEXT=>

What would happen if we had different prices in the market?
  • At 10 cents, the quantity demanded is 800 tapes and the quantity supplied is 0 tapes. This is not a suitable price. The buyers can't buy all that they want.
  • At 90 cents, the quantity demanded is 0 tapes and the quantity supplied is 800 tapes. This is not a suitable price, either. The sellers can't sell all that they want.
  • Buyers or sellers are not satisfied at these prices and will take corrective action.
This is not equilibrium.

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INFLATION PROBLEMS

Two notable problems are associated with inflation--uncertainty and haphazard redistribution. Inflation, especially inflation that varies from month to month and year to year, makes long-term planning quite difficult. Prices, wages, taxes, interest rates, and other nominal values that enter into consumer, business, and government planning decisions can be significantly affected by inflation. Moreover, inflation tends to redistribute income and wealth in a haphazard manner--some people win and some people lose. This redistribution might not be that desired by society, failing to promote any of the basic economic goals of efficiency, equity, stability, growth, or full-employment.

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APLS

BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time searching for rummage sales looking to buy either income tax software or a how-to book on the art of negotiation. Be on the lookout for strangers with large satchels of used undergarments.
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One of the largest markets for gold in the United States is the manufacturing of class rings.
"Good judgment comes from experience, and often experience comes from bad judgment."

-- Rita Mae Brown ‚ Writer

KLCE
Kuala Lumpur Commodity Exchange (Malaysia)
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