Macroeconomics
-
Upload
alicia-fourie -
Category
Education
-
view
595 -
download
3
Transcript of Macroeconomics
![Page 1: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/1.jpg)
Mohr & Fourie: Chapter / Hoofstuk 18 +19
![Page 2: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/2.jpg)
![Page 3: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/3.jpg)
Introduction Inleiding
Micro (Ch. 7-14) Macro (Ch.15-17+18-23)
ECON111Production = Income =
Expenditure But …
◦ leakages & injections 4 participants
◦ C◦ I◦ G&T◦ X&Z
Mikro (Hfst. 7-14) Makro (Hfst. 15-17 +18-
23)
ECON111Produksie = Inkome = Besteding Maar ...
◦ ontrekkings & inspuitings 4 rolspelers
◦ C◦ I◦ G&T◦ X&Z
![Page 4: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/4.jpg)
Overview 18+19 Oorsig 18+19
Ch.18◦ simplified model◦ Y = C+I
Ch. 19◦ add Government sector◦ Y = C + I + G◦ NB taxes impact on C
◦ add Overseas sector◦ Y = C + I + G + (X - Z)◦ NB. marginal
propensity to import (m)
Hfst. 18◦ eenvoudige model◦ Y = C + I
Hfst. 19◦ voeg Regering sektor
by◦ Y = C + I + G◦ NB. belasting se impak
op C◦ voeg Oorsese sektor by◦ Y = C + I + G + (X – Z)◦ NB. grens geneigdheid
om in te voer (m)
![Page 5: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/5.jpg)
Outcomes Uitkomstes
All concepts …◦ Name◦ Discuss◦ Explain◦ Describe◦ Calculate◦ Graph
Leave out !◦ Box 18-5 + 18-9◦ Box 19-4 + 19-9
Alle konsepte◦ Noem◦ Bespreek◦ Verduidelik◦ Omskryf◦ Bereken◦ Teken (grafiek)
LOS !!!◦ Rame 18-5 + 18-9◦ Rame 19-4 + 19-9
![Page 6: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/6.jpg)
Mohr & Fourie: Chapter / Hoofstuk 18ECON121_2011
![Page 7: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/7.jpg)
Section 18-1 Afdeling 18-1
Chapter 3◦ flows & relationships
Chapter 4◦ National accounts◦ ex post … after the fact◦ production = income◦ equilibrium at same
level Macro theory
◦ no automatic equilibrium
Hoofstuk 3◦ vloeie & verhoudings
Hoofstuk 4◦ nasionale rekeninge◦ ex post ... na die daad◦ produksie = inkome◦ ewewig op selfde vlak
Makro Teorie◦ geen outomatiese
ewewig
![Page 8: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/8.jpg)
B > I & P◦ D>S◦ Voorraad ◦ Produksie brei uit◦ Wanneer is B>I?
B < I & P◦ D<S◦ Voorraad ◦ Krimp produksie◦ Wanneer is B<I?
B = I & P◦ Alle produksie word
verkoop◦ Ewewig
Figuur 3-1: Die drie hoofvloeie in die ekonomie
![Page 9: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/9.jpg)
Y = Nationale inkome of
produk
A = Totale besteding
![Page 10: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/10.jpg)
Section 18-1 Afdeling 18-1
A = Y◦ Equilibrium◦ no change
A > Y◦ Expand production
A < Y◦ Decrease production
A = Y◦ Ewewig◦ geen verandering
A > Y◦ Brei produksie uit
A < Y◦ Verminder produksie
A = Y en dit sal gebeur by
volleindiensname van produksie of
inkome
Yf
![Page 11: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/11.jpg)
![Page 12: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/12.jpg)
JB Say JB Say
A = Y ... Always Full employment level
Say’s Law◦ SUPPLY(Y) creates demand
(A)
◦ Y A
A = Y ... Altyd Volle indiensname peil
Wet van Say◦ AANBOD (Y) skep Vraag (A)o Y A
![Page 13: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/13.jpg)
Keynes* Keynes*
A = Y ... Not automatic Great Depression
Keynes◦ DEMAND (A) creates
supply (Y)
◦ A Y
A = Y ... Nie outomaties nie Groot Depressie
Keynes◦ VRAAG (A) skep Aanbod (Y)
◦ A Y
![Page 14: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/14.jpg)
Box 18-1 Raam 18-1
Synonyms Y (SUPPLY)
◦ Total production◦ Total Income◦ NNP, NI
A (DEMAND)◦ Total expenditure◦ Aggregate demand
Sinonieme Y (AANBOD)
◦ Totale produksie ◦ Totale inkome◦ NNP, NI
A (VRAAG)◦ Totale besteding◦ Totale vraag
![Page 15: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/15.jpg)
Box 18-2 Raam 18-2
Assumptions Households+ firms NO
◦ G, X, Z Given (Fixed)
◦ P, w, i, Ms A Y ... Keynes
Aannames Huishoudings + firmas Geen
◦ G, X, Z Gegewe (vaste)
◦ P, w, i, Ms A Y ... Keynes
![Page 16: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/16.jpg)
Section 18-2 Afdeling 18-2
Models◦ Explain◦ Predict◦ Policy◦ FUTURE◦ ex ante
National accounts◦ Bookkeeping◦ PAST events◦ ex post
Modelle◦ Verklaar◦ Voorspel◦ Beleid◦ TOEKOMS◦ ex ante
Nasionale rekeninge◦ Boekhou◦ VERLEDE◦ ex post
![Page 17: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/17.jpg)
Mohr & Fourie: Chapter / Hoofstuk 18ECON121_2011
![Page 18: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/18.jpg)
![Page 19: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/19.jpg)
Section 18-3 Afdeling 18-3
Consumption expenditure
Largest component◦ C > I
Consumption Function ◦
◦ c ... MPC 3 NB Characteristics
(Consumption function):◦ Y C◦ Y > C◦ C > 0, even if Y=0
Verbruiksbesteding Grootste komponent
◦ C > I Verbruiksfunksie
◦
◦ c ... MPC 3 belangrike kenmerke
(verbruiksfunksie):◦ Y C◦ Y > C◦ C > 0, al is Y=0
cYCC cYCC
![Page 20: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/20.jpg)
3 belangrike kenmerke:Y CY > CC > 0, al is Y=0
Geïnduseerde komponentOutonome komponent
Fig.18-1, 18-2cYCC
3 NB Characteristics: Y C Y > C C > 0, even if Y=0
Induced component Autonomous component
![Page 21: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/21.jpg)
Box 18-3 Raam 18-3
Non-income determinants
Autonomous Consumption
Interest rates
Expectations
Wealth
Income distribution
Other
Nie-Inkome determinante
Outonome Verbruik
Rente koerse
Verwagtings
Rykdom
Inkome verdeling
Ander
![Page 22: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/22.jpg)
Box 18-4 Raam 18-4
Savings Y = C + S … S = Y - C 1 = c + s 1 = mpc + mps c = 1 - s
◦ slope◦ c = mpc◦ 0 < c < 1
S = Y - C
Spare Y = C + S … S = Y - C 1 = c + s 1 = mpc + mps c = 1 - s
◦ helling◦ c = mpc◦ 0 < c < 1
S = Y - C
cYCC
YcCS )1(
cYCC
YcCS )1(
![Page 23: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/23.jpg)
Exercise Oefening
C = ??? if mps = 15% autonomous C = 300
C = ??? indien mps = 15% autonome C = 300
![Page 24: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/24.jpg)
Mohr & Fourie: Chapter / Hoofstuk 18ECON121_2011
![Page 25: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/25.jpg)
Section 18-4 Afdeling 18-4
Investment Expenditure Volatile Capital Goods Independent w.r.t. Y Determinants
◦ Cost of KG◦ Cost of money (i)◦ Expected income
Investment option Fig. 18-3 & 18-4
Investerings spandering Wisselvallig Kapitaal Goedere Onafhanklik t.o.v. Y Determinante
◦ Koste van KG◦ Koste van geld (i)◦ Verwagte inkome
Investering opsie Fig. 18-3 & 18-4
I = Ī
![Page 26: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/26.jpg)
Hoër rentekoers ... laer verwagte opbrengs
Laer opbrengs ... minder investering
Figuur 18.3
![Page 27: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/27.jpg)
Box 18-6 Raam 18-6
In EQUILIBRIUM ... Planned savings = planned
investment (S = I) Exercise
◦ C = 50 + 0.8Y◦ I = 150
Rewrite C = … to S = … Then solve I = S
In EWEWIG ... Beplande spare = Beplande
investering (S = I) Oefening
◦ C = 50 + 0.8Y◦ I = 150
Herskryf C = ... na S = ... Dan los op vir I = S
S = -C + Y(1-c)
![Page 28: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/28.jpg)
Section 18-5, 18-6 Afdeling 18-5, 18-6
Total Expenditure (A) A = C + I
Totale spandering (A) A = C + I
![Page 29: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/29.jpg)
![Page 30: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/30.jpg)
Exercise Oefening
Calculate Ye
C = 160 + 0.6Y I = 600
Bereken Ye
C = 160 + 0.6Y I = 600
![Page 31: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/31.jpg)
Mohr & Fourie: Chapter / Hoofstuk 18ECON121_2011
A = Y
Ye = α(Ā)
![Page 32: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/32.jpg)
Multiplier Vermenigvuldiger
Memorise the full α Replace with zeros where
data is missing
Leer die volle α Vervang nulle in waar data
kort
mtc
)1(1
1
![Page 33: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/33.jpg)
Multiplier Vermenigvuldiger
Definition … Change …
End …
MPC = c◦ impact on size
Re-spending of money
Definisie ... Verandering ...
Uiteinde ...
MPC = c◦ invloed op grootte
Her-besteding van geld
AY
AYe
AY
AYe
![Page 34: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/34.jpg)
Multiplier Vermenigvuldiger
MPC = c
◦MPC α
MPC = c
◦MPC α
![Page 35: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/35.jpg)
A Ynuwe Ye / new Ye
NB! …
Draw / teken A1 & A2
bereken / calculate
Y1 & Y2
A1 & A2
Y α
![Page 36: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/36.jpg)
Exercise Oefening
C =10+0.75Y & I = 5
1. Calculate α
2. Calculate Ye
C =10+0.75Y & I = 51. Bereken α2. Bereken Ye
![Page 37: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/37.jpg)
HW Exercise HW Oefening
C = 200 + 0.56Y & I = 400
1. Calculate α
2. Calculate Ye
if I increases to 600.
4. Calculate Ye
C = 200 + 0.56Y & I = 4001. Bereken α2. Bereken Ye
as I styg tot 6004. Bereken / Calculate Ye
![Page 38: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/38.jpg)
Mohr & Fourie: Chapter / Hoofstuk 18
ECON121_2011
![Page 39: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/39.jpg)
![Page 40: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/40.jpg)
What’s NB in 18+19 Wat is NB in 18+19
Equilibrium◦ A = Y◦ intercept with 45° line
Graph◦ A on Y-axis
Total expenditure Aggregate demand
◦ Y on X-axis Total Production Total Income
Ewewig◦ A = Y◦ snypunt met 45° lyn
Grafiek◦ A op Y-as
Totale besteding Totale vraag
◦ Y op X-as Totale produksie Totale Inkome
![Page 41: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/41.jpg)
3 belangrike kenmerke:Y CY > CC > 0, al is Y=0
Geïnduseerde komponentOutonome komponent
Fig.18-1, 18-2cYCC
3 NB Characteristics: Y C Y > C C > 0, even if Y=0
Induced component Autonomous component
![Page 42: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/42.jpg)
Y = C + I S = I
S = -C + Y(1-c)
AYe ,, IC
mtc
)1(1
1
cYCC
![Page 43: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/43.jpg)
What’s NB in 18+19 Wat is NB in 18+19
Equations◦ Independent factors
stable, ‘hat’, capitals affect Y-axis intercept
◦ Dependent factors ‘small’, lower case c, t, m … s affect slope of A-curve
Multiplier◦ full multiplier ONLY◦ dependent (small)
factors
Vergelykings◦ Onafhanklike faktore
Stabiel, ‘hoed’, hoofletters
impak op Y-as afsnit
◦ Afhanklike faktore ‘klein’, kleinletters c, t, m ... s impak op helling van A-
kurwe
Vermenigvuldiger◦ volle vermenigvuldiger!!!◦ afhanklike (klein) faktore
ZXGIC ,,,,ZXGIC ,,,,
![Page 44: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/44.jpg)
What’s NB in 18+19 Wat is NB in 18+19
NB. Equations◦ C = …
tax (t) impacts on C marginal propensity to
consume (c) marginal propensity to
save (s)
◦ Z = … marginal propensity to
import (m)
NB. Vergelykings◦ C = ...
belasting (t) beïnvloed C
grens geneigdheid om in te verbruik (c)
grens geneigdheid om in te spaar (s)
◦ Z = ... grens geneigdheid om
in te voer (m)
![Page 45: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/45.jpg)
Multiplier Vermenigvuldiger
Memorise the full α Replace with zeros where
data is missing
Leer die volle α Vervang nulle in waar data
kort
cccmortNo
mcmcctNo
tcctccmNo
mtc
1
1
00.1
1...
1
1
0.1
1...
.1
1
0.1
1...
)1(1
1
![Page 46: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/46.jpg)
Hoofstuk 19 Modelle wat die owerheid en buiteland insluit 46
)(1
1
)(
ZXGICmctc
AY
![Page 47: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/47.jpg)
Mohr & Fourie: Chapter / Hoofstuk 19
ECON121_2011
A = C+I+G+X-Z
![Page 48: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/48.jpg)
Mohr & Fourie: Chapter / Hoofstuk 19
ECON121_2011
![Page 49: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/49.jpg)
Autonomous Factors Outonome Faktore
Independent of Y No effect on α Y-axis intercept ...
Onafhanklik van Y Geen invloed op α Y-as afsnit ...
ZXGICA
![Page 50: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/50.jpg)
II GG XX
![Page 51: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/51.jpg)
Mohr & Fourie: Chapter / Hoofstuk 18 +19ECON121_2011
![Page 52: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/52.jpg)
cY, tY, mY Dependent on Y Changes α Changes slope Equilibrium?
cY, tY, mY Afhanklik van Y Beinvloed α Verander helling Ewewig?
Induced Factors Geinduseerde Faktore
mtc
)1(1
1
![Page 53: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/53.jpg)
cY◦ c ... α ... Ye◦ injection
tY◦ t ... α ... Ye◦ leakage
mY◦ m ... α ... Ye◦ leakage
cY◦ c ... α ... Ye◦ inspuiting
tY◦ t ... α ... Ye◦ lekkasie
mY◦ m ... α ... Ye◦ lekkasie
Induced Factors Geinduseerde Faktore
mtc
)1(1
1
![Page 54: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/54.jpg)
c ... (t... m) inspuiting / injection
c ... (t ... m) leakage / lekkasie
Induced Factors Geinduseerde Faktore
mtc
)1(1
1
A=YA2
A1
A
YY1 Y2
A=YA1
A2
A
YY2 Y1
![Page 55: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/55.jpg)
Mohr & Fourie: Chapter / Hoofstuk 19
ECON121_2011
![Page 56: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/56.jpg)
Exercise Oefen
C = 10 + 0.6Y I = 30 Calculate α and Ye Illustrate Calculate the new Ye if G =
20
C = 10 + 0.6Y I = 30 Bereken α en Ye Teken Bereken die nuwe Ye as G
=20
![Page 57: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/57.jpg)
Mohr & Fourie: Chapter / Hoofstuk 19
ECON121_2011
![Page 58: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/58.jpg)
YtcCC
tYYcCC
YcCC
YtY
tYYTYY
tYT
d
d
d
)1(
)(
)(
)1(
![Page 59: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/59.jpg)
T = tY T = tY
Finances G Leakage ...
◦ Reduces disposable income (Yd)
Yd ... direct C ... indirect
Finansier G Lekkasie ...
◦ Verminder besteebare inkome (Yd)
Yd ... Direk C ... Indirek
![Page 60: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/60.jpg)
Mohr & Fourie: Chapter / Hoofstuk 19
ECON121_2011
![Page 61: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/61.jpg)
Fiscal Policy Fiskale Beleid
Expansionary FP ... A G t
Contractionary FP ... A G t
Uitbreidende FP ... A G t
Inkrimpende FP ... A G t
Hoofstuk 16 / Chapter 16
![Page 62: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/62.jpg)
Exercise Oefening
Q. Ye = ? Long method & via multiplier
Q. Ye = ? Lang metode asook met vermenigvuldiger
C = 10 + 0.6Y
I=30
G=20
T=0.167Y
![Page 63: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/63.jpg)
Mohr & Fourie: Chapter / Hoofstuk 18 +19ECON121_2011
![Page 64: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/64.jpg)
Hoofstuk 19 Modelle wat die owerheid en buiteland insluit 64
◦ Buitelande se besteding◦ onafhanklik van Y◦ geen invloed op ◦ beinvloed A positief◦ skuif A-afsnit op
◦ binnelandse besteding◦ hang deels van Y af◦ ook outonome deel◦ lekkasie, skuif afsnit af◦ beinvloed Ā & α
(X-Z) = netto uitvoere
mYZZInvoere :
XXUitvoer :
![Page 65: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/65.jpg)
![Page 66: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/66.jpg)
Hoofstuk 19 Modelle wat die owerheid en buiteland insluit66
Impak op …Ā=Ċ+Ī+Ġ+Ẋ-Ż
(Outonome Besteding)
α=1÷(1-c+ct+m)
(Vermenigvuldiger)
Ye = α(Ā)
(Ewewigs Inkome)
Ċ
c
Ī
Ġ
t
Ẋ
Ż
m
![Page 67: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/67.jpg)
Home work / Huiswerk Handing it in / Handig dit in
![Page 68: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/68.jpg)
HW HW
Veronderstel die volgende inligting beskryf die ekonomie van Efenland
Suppose that the following information describes the economy of Eufenland:
C = 100 + 0.75Yd
I = 200G = 150X = 200
M = 150 + 0.4Yt = 20%
![Page 69: Macroeconomics](https://reader035.fdocuments.in/reader035/viewer/2022062308/558c0c83d8b42a8c178b45f2/html5/thumbnails/69.jpg)
HW HW
1. Bereken die vlak van ewewigsinkome (Ye) in Eufenland met behulp van die totale bestedings-benadering./ Calculate Eufenland’s equilibrium income level (Ye) by means of the total expenditure approach.
2. Veronderstel dat investering (I) toeneem na 250, bereken die nuwe vlak van ewewigs-inkome (Ye) met behulp van die vermenigvuldiger. / Suppose that investmet increase to 250, calculate the new level of equilibrium income (Ye) by means of the multiplier.