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Baris 10:
* Faktor [[pendidikan]]
* Faktor [[moral]]
=== Inflation and monetary policy ===
Main articles: Inflation and Monetary policy
See also: Money, Quantity theory of money, Monetary policy and History of money
Money is a ''means of final payment'' for goods in most price system economies and the unit of account
in which prices are typically stated. A very apt statement by Professor
Walker, a well-known economist is that, " Money is what money does"<sup>[''citation needed'']</sup>.
Money has a general acceptability, a relative consistency in value,
divisibility, durability, portability, elastic in supply and survives
with mass public confidence. It includes currency held by the nonbank
public and checkable deposits. It has been described as a social
convention, like language, useful to one largely because it is useful to
others.
As a medium of exchange,
<nowiki> </nowiki>money facilitates trade. It is essentially a measure of value and more
importantly, a store of value being a basis for credit creation. Its
economic function can be contrasted with barter (non-monetary exchange). Given a diverse array of produced goods and specialized producers, barter may entail a hard-to-locate double coincidence of wants as to what is exchanged, say apples and a book. Money can reduce the transaction cost
<nowiki> </nowiki>of exchange because of its ready acceptability. Then it is less costly
for the seller to accept money in exchange, rather than what the buyer
produces.<sup>[81]</sup>
At the level of an economy, theory and evidence are consistent with a positive relationship running from the total money supply to the nominal value of total output and to the general price level. For this reason, management of the money supply is a key aspect of monetary policy.<sup>[82]</sup>
=== Fiscal policy ===
Main articles: Fiscal policy and Government spending
Governments implement fiscal policy by adjusting spending and
taxation policies to alter aggregate demand. When aggregate demand falls
<nowiki> </nowiki>below the potential output of the economy, there is an output gap
<nowiki> </nowiki>where some productive capacity is left unemployed. Governments increase
<nowiki> </nowiki>spending and cut taxes to boost aggregate demand. Resources that have
been idled can be used by the government.
For example, unemployed home builders can be hired to expand
highways. Tax cuts allow consumers to increase their spending, which
boosts aggregate demand. Both tax cuts and spending have multiplier effects where the initial increase in demand from the policy percolates through the economy and generates additional economic activity.
The effects of fiscal policy can be limited by crowding out.
<nowiki> </nowiki>When there is no output gap, the economy is producing at full capacity
and there are no excess productive resources. If the government
increases spending in this situation, the government use resources that
otherwise would have been used by the private sector, so there is no
increase in overall output. Some economists think that crowding out is
always an issue while others do not think it is a major issue when
output is depressed.
Skeptics of fiscal policy also make the argument of Ricardian equivalence.
<nowiki> </nowiki>They argue that an increase in debt will have to be paid for with
future tax increases, which will cause people to reduce their
consumption and save money to pay for the future tax increase. Under
Ricardian equivalence, any boost in demand from fiscal policy will be
offset by the increased savings rate intended to pay for future higher
taxes.
== Tindakan, Motif dan Prinsip Ekonomi ==
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