MankiwEconomicsChap32中山大学吴柏林教授“曼昆·经济学原理”绝密资料.ppt

* 18 * * * * 23 * 25 * * 28 * 30 * 31 * 33 * 34 * 34 * 38 * 38 * 39 * 39 * 39 * 39 * 40 * 41 * 41 The Crowding-Out Effect When the government increases its purchases by $20 billion, the aggregate demand for goods and services could rise by more or less than $20 billion, depending on whether the multiplier effect or the crowding-out effect is larger. Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. Changes in Taxes When the government cuts personal income taxes, it increases households’ take-home pay. Households save some of this additional income. Households also spend some of it on consumer goods. Increased household spending shifts the aggregate-demand curve to the right. Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. Changes in Taxes The size of the shift in aggregate demand resulting from a tax change is affected by the multiplier and crowding-out effects. It is also determined by the households’ perceptions about the permanency of the tax change. Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. Using Policy to Stabilize the Economy Economic stabilization has been an explicit goal of U.S. policy since the Employment Act of 1946. Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. The Case for Active Stabilization Policy The Employment Act has two implications: The government should avoid being the cause of economic fluctuations. The government should respond to changes in the private economy in order to stabilize aggregate demand. Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. The Case Against Active Stabilization Policy Some economists argue that monetary and fiscal policy destabilizes the economy. Monetary and fiscal policy a