Sentiment
Consumers’ and producers’ optimism or pessimism concerning the economy are important
determinants of economic performance. If consumers have confidence in their future income
levels, for example, they will be more willing to spend on big-ticket items. Similarly,
businesses will increase production and inventory levels if they anticipate higher demand
for their products. In this way, beliefs influence how much consumption and investment will
be pursued and affect the aggregate demand for goods and services.
unemployment rate
The ratio of the number of
people classified as unemployed to the total labor force.
inflation
The rate at which the general
level of prices for goods and
services is rising.
budget deficit
The amount by which
government spending
exceeds government
revenues.
CONCEPT
check 12.1 Consider an economy where the dominant industry is automobile production for both domestic
consumption as well as export. Now suppose that auto sales fall in response to an increase in the
length of time people use their cars before replacing them. Describe the probable effects of this
change on (a) GDP, (b) unemployment, © the government budget deficit, and (d) interest rates.
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概括
消费者和生产者的乐观或悲观情绪对经济表现具有重要影响。若消费者对未来收入有信心，会更愿意购买高价商品；企业预期需求增长则会扩大生产和库存。这种信念直接影响消费与投资规模，进而决定整体商品服务需求。失业率指失业人口占劳动力总数的比例，通货膨胀反映商品服务价格普遍上涨速度，预算赤字则是政府支出超过收入的部分。以汽车产业为主导的经济体为例，若消费者延长换车周期导致销量下滑，可能引发GDP下降、失业率上升、政府赤字扩大及利率波动。
