巴德 宏观经济学原理（英文版·第8版）Chapter 13.pptxVIP

Why did the U.S. economygo into recession in 2008? 13When you have completed your study of this chapter, you will be able to1 Define and explain the influences on aggregate supply.2 Define and explain the influences on aggregate demand.3 Explain how trends and fluctuations in aggregate demand and aggregate supply bring economic growth, inflation, and the business cycle.CHAPTER CHECKLISTAggregate Supply and Aggregate Demand 13.1 AGGREGATE SUPPLYThe quantity of real GDP supplied is the total amount of final goods and services that firms in the United States plan to produce.The quantity of real GDP supplied depends on the quantities ofLabor employedCapital, human capital, and the state of technologyLand and natural resourcesEntrepreneurial talent 13.1 AGGREGATE SUPPLYAt full employment:The real wage rate makes the quantity of labor demanded equal to the quantity of labor supplied.Real GDP equals potential GDP.Over the business cycle:The quantity of labor employed fluctuates around its full employment level.Real GDP fluctuates around potential GDP. 13.1 AGGREGATE SUPPLYAggregate Supply BasicsAggregate supply is the relationship between the quantity of real GDP supplied and the price level when all other influences on production plans remain the same.Other things remaining the same,When the price level rises, the quantity of real GDP supplied increases.When the price level falls, the quantity of real GDP supplied decreases. 13.1 AGGREGATE SUPPLYAlong the aggregate supply curve, the only influence on production plans that changes is the price level. All the other influences on production plans remain constant. Among these other influences areThe money wage rateThe money prices of other resourcesIn contrast, along the potential GDP line, when the price level changes the money wage rate changes to keep the real wage rate at the full-employment level. 13.1 AGGREGATE SUPPLYFigure 13.1 shows the aggregate supply schedule and aggregate supply curve. 13.1 AGGREGATE