### 经济代写|宏观经济学代写Macroeconomics代考|How the Economy as a Whole Works

statistics-lab™ 为您的留学生涯保驾护航 在代写宏观经济学Macroeconomics方面已经树立了自己的口碑, 保证靠谱, 高质且原创的统计Statistics代写服务。我们的专家在代写宏观经济学Macroeconomics代写方面经验极为丰富，各种代写宏观经济学Macroeconomics相关的作业也就用不着说。

• Statistical Inference 统计推断
• Statistical Computing 统计计算
• (Generalized) Linear Models 广义线性模型
• Statistical Machine Learning 统计机器学习
• Longitudinal Data Analysis 纵向数据分析
• Foundations of Data Science 数据科学基础

## 经济代写|宏观经济学代写Macroeconomics代考|A Country’s Standard of Living Depends

The differences in living standards around the world are staggering. In 2017, the average American earned about $\$ 60,000$. In the same year, the average German earned about$\$51,000$, the average Chinese about $\$ 17,000$, and the average Nigerian only$\$6,000$. Not surprisingly, this large variation in average income is reflected in various measures of quality of life. Citizens of high-income countries have more computers, more cars, better nutrition, better healthcare, and a longer life expectancy than do citizens of low-income countries.

Changes in living standards over time are also large. In the United States, incomes have historically grown about 2 percent per year (after adjusting for changes in the cost of living). At this rate, average income doubles every 35 years. Over the past century, average U.S. income has risen about eightfold.

What explains these large differences in living standards among countries and over time? The answer is surprisingly simple. Almost all variation in living standards is attributable to differences in countries’ productivity – that is, the amount of goods and services produced by each unit of labor input. In nations where workers can produce a large quantity of goods and services per hour, most people enjoy a high standard of living; in nations where workers are less productive, most people endure a more meager existence. Similarly, the growth rate of a nation’s productivity determines the growth rate of its average income.

The relationship between productivity and living standards is simple, but its implications are far-reaching. If productivity is the primary determinant of living standards, other explanations must be less important. For example, it might be tempting to credit labor unions or minimum-wage laws for the rise in living standards of American workers over the past century. Yet the real hero of American workers is their rising productivity. As another example, some commentators have claimed that increased competition from Japan and other countries explained the slow growth in U.S. incomes during the 1970 s and 1980 s. Yet the real villain was flagging productivity growth in the United States.

The relationship between productivity and living standards also has profound implications for public policy. When thinking about how any policy will affect living standards, the key question is how it will affect our ability to produce goods and services. To boost living standards, policymakers need to raise productivity by ensuring that workers are well educated, have the tools they need to produce goods and services, and have access to the best available technology.

## 经济代写|宏观经济学代写Macroeconomics代考|Prices Rise When the Government Prints

In January 1921 , a daily newspaper in Germany cost $0.30$ marks. Less than 2 years later, in November 1922, the same newspaper cost $70,000,000$ marks. All other prices in the economy rose by similar amounts. This episode is one of history’s most spectacular examples of inflation, an increase in the overall level of prices in the economy.

Although the United States has never experienced inflation even close to that of Germany in the 1920 s, inflation has at times been a problem. During the 1970 s, the overall level of prices more than doubled, and President Gerald Ford called inflation “puhlic enemy numher noe” Dy rontrast inflation in the twn iterates of the 21 st century has run about 2 percent per year; at this rate, it takes 35 years for prices to double. Because high inflation imposes various costs on society, keeping inflation at a reasonable rate is a goal of economic policymakers around the world.

What causes inflation? In almost all cases of large or persistent inflation, the culprit is growth in the quantity of money. When a government creates large quantities of the nation’s money, the value of the money falls. In Germany in the early 1920 s, when prices were on average tripling every month, the quantity of money was also tripling every month. Although less dramatic, the economic history of the United States points to a similar conclusion: The high inflation of the 1970 s was associated with rapid growth in the quantity of money, and the return of low inflation in the 1980 s was associated with slower growth in the quantity of money.

## 经济代写|宏观经济学代写Macroeconomics代考|Society Faces a Short-Run Trade-Off

While an increase in the quantity of money primarily raises prices in the long run, the short-run story is more complex. Most economists describe the short-run effects of money growth as follows:

• Increasing the amount of money in the economy stimulates the overall level of spending and thus the demand for goods and services.
• Higher demand may over time cause firms to raise their prices, but in the meantime, it also encourages them to hire more workers and produce a larger quantity of goods and services.
• More hiring means lower unemployment.
This line of reasoning leads to one final economy-wide trade-off: a short-run tradeoff between inflation and unemployment.

Although some economists still question these ideas, most accept that society faces a short-run trade-off between inflation and unemployment. This simply means that, over a period of a year or two, many economic policies push inflation and unemployment in opposite directions. Policymakers face this trade-off regardless of whether inflation and unemployment both start out at high levels (as they did in the early 1980s), at low levels (as they did in the late 1990 s), or someplace in between. This short-run trade-off plays a key role in the analysis of the business cycle – the irregular and largely unpredictable fluctuations in economic activity, as measured by the production of goods and services or the number of people employed.

Policymakers can exploit the short-run trade-off between inflation and unemployment using various policy instruments. By changing the amount that the government spends, the amount it taxes, and the amount of money it prints, policymakers can influence the overall demand for goods and services. Changes in demand in turn influence the combination of inflation and unemployment that the economy experiences in the short run. Because these instruments of economic policy are so powerful, how policymakers should use them to control the economy, if at all, is a subject of continuing debate.

## 经济代写|宏观经济学代写Macroeconomics代考|Prices Rise When the Government Prints

1921年1月，德国的一份日报成本0.30分数。不到 2 年后，也就是 1922 年 11 月，同样的报纸成本70,000,000分数。经济中的所有其他价格都上涨了类似的幅度。这一事件是历史上最引人注目的通货膨胀例子之一，即经济中总体价格水平的上升。

## 经济代写|宏观经济学代写Macroeconomics代考|Society Faces a Short-Run Trade-Off

• 增加经济中的货币数量会刺激整体支出水平，从而刺激对商品和服务的需求。
• 随着时间的推移，更高的需求可能会导致公司提高价格，但与此同时，它也鼓励他们雇用更多的工人并生产更多的商品和服务。
• 更多的招聘意味着更低的失业率。
这种推理导致了最终的经济范围内的权衡：通货膨胀和失业之间的短期权衡。

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## MATLAB代写

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