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# 经济代写|宏观经济学代考Macroeconomics代写|ECON2022 Potential Output and the Output Gap

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## 经济代写|宏观经济学代考Macroeconomics代写|Potential Output and the Output Gap

National output (or income) represents what the economy actually produces. An important related concept is the level of output the economy would produce if all resources-land, labour, and capital-were fully employed. ${ }^1$ This concept is usually called potential output $\oplus$. The value of potential output must be estimated using statistical techniques, whereas the value of actual output can be measured directly. For this reason, there is often disagreement among researchers regarding the level of potential output, owing to their different estimation approaches. In terms of notation, we use $Y$ to denote the economy’s actual output and $Y^*$ to denote potential output.

The output gap $\Phi$ measures the difference between potential output and actual output, and is computed as $Y-Y^$. When actual output is less than potential output $\left(Y\right)$, the gap measures the market value of goods and services that are not produced because the economy’s resources are not fully employed. When $Y$ is less than $Y^$, the output gap is called a recessionary gap $₫$. When actual output exceed potential output $\left(Y>Y^\right)$, the gap measures the market value of production in excess of what the economy can produce on a sustained basis. $Y$ can exceed $Y^$ because workers may work longer hours than normal or factories may operate an extra shift. When $Y$ exceeds $Y^$ there is often upward pressure on wages and prices, and thus we say the output gap is an inflationary $\operatorname{gap}$

## 经济代写|宏观经济学代考Macroeconomics代写|Why National Income Matters

National income is an important measure of economic performance.
Short-run movements in the business cycle receive the most attention in politics and in the press, but most economists agree that long-term growth-as reflected by the growth of potential GDP-is in many ways the more important of the two.
Recessions are associated with unemployment and lost output. When actual GDP is below potential GDP, economic waste and human suffering result from the failure to fully employ the economy’s resources. Booms, although associated with high employment and high output, can bring problems of their own. When actual GDP exceeds potential GDP, inflationary pressure usually ensues, causing concern for any government committed to keeping inflation low.

The long-run trend in real per capita national income is an important determinant of improvements in a society’s overall standard of living. When income per person grows, each generation can expect, on average, to be better off than preceding ones. For example, over the period shown in Figure 19-1ㅁ, per capita income has grown at an average rate of about 1.5 percent per year. Even at such a modest growth rate, the average person’s lifetime income will be about twice that of his or her grandparents.
Although economic growth makes people materially better off on average, it does not necessarily make every individual better off-the benefits of growth are never shared equally by all members of the population. For example, if growth involves significant changes in the structure of the economy, such as a shift away from agriculture and toward manufacturing (as happened in the first part of the twentieth century), or away from manufacturing and toward services (as has been happening for a few decades), then these changes will reduce some people’s material living standards for extended periods of time.

# 宏观经济学代写

## 经济代写|宏观经济学代考Macroeconomics代写|Why National Income Matters

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## MATLAB代写

MATLAB 是一种用于技术计算的高性能语言。它将计算、可视化和编程集成在一个易于使用的环境中，其中问题和解决方案以熟悉的数学符号表示。典型用途包括：数学和计算算法开发建模、仿真和原型制作数据分析、探索和可视化科学和工程图形应用程序开发，包括图形用户界面构建MATLAB 是一个交互式系统，其基本数据元素是一个不需要维度的数组。这使您可以解决许多技术计算问题，尤其是那些具有矩阵和向量公式的问题，而只需用 C 或 Fortran 等标量非交互式语言编写程序所需的时间的一小部分。MATLAB 名称代表矩阵实验室。MATLAB 最初的编写目的是提供对由 LINPACK 和 EISPACK 项目开发的矩阵软件的轻松访问，这两个项目共同代表了矩阵计算软件的最新技术。MATLAB 经过多年的发展，得到了许多用户的投入。在大学环境中，它是数学、工程和科学入门和高级课程的标准教学工具。在工业领域，MATLAB 是高效研究、开发和分析的首选工具。MATLAB 具有一系列称为工具箱的特定于应用程序的解决方案。对于大多数 MATLAB 用户来说非常重要，工具箱允许您学习应用专业技术。工具箱是 MATLAB 函数（M 文件）的综合集合，可扩展 MATLAB 环境以解决特定类别的问题。可用工具箱的领域包括信号处理、控制系统、神经网络、模糊逻辑、小波、仿真等。