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Okay بسم الله الرحمن الرحيم اليوم إن شاء الله

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سنكمل الحلقة الثامنة و سنقوم بالتحليق و التدخل و

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التدخل و تدخل و تدخل و تدخل و تدخل و تدخل و تدخل و

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تدخل و تدخل و تدخل و تدخل و تدخل و تدخل و تدخل و

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تدخل و تدخل و تدخل و تدخل و تدخل و تدخل و تدخل و

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تدخل و تدخل و تدخل و تدخل و تدخل و تدخل و تدخل و

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تدخل و تدخل و تدخل و تدخل و تدخل و تدخل و تدخل و

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تدخل و

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وهو الاستخدام الاستخدام الاستخدام الاستخدام

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الاستخدام الاستخدام الاستخدام الاستخدام الاستخدام

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الاستخدام الاستخدام الاستخدام الاستخدام الاستخدام

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الاستخدام

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الاستخدام الاستخدام الاستخدام الاستخدام الاستخدام

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الاستخدام الاستخدام الاستخدام الاستخدم الاستخدم

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الاستخدم الاستخدم الاستخدم الاستخدم الالتطور أو

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تدفع الاقتصاد باستخدام اتفاق الاتفاق هذه الأدوات

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تزيد عمليات الحكومة أو عمليات الحكومة أو تدفع

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السعر لذلك عندما نتحدث عن اتفاق الاتفاق الاتفاق

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الاتفاق الاتفاق

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نحن نتكلم عن أزمة الحكومة أو او او او او او او او

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او او او او او او او او او او او او او او او او او

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او او او او او او او او او او او او او او او او او

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او او او او او او او او او او او او او او او او او

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او او او او او او او او او او او او او او او او او

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او او او او او او او او او او او او او او او او او

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او

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او او او او او او او او او او او

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سنبدأ عملية تحديث هذه السيطرة على السوق الخاص بنا

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و بعدها السوق الخاص بنا على السوق الخاص بنا على

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السوق الخاص بنا على السوق الخاص بنا على السوق

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الخاص بنا على السوق الخاص بنا على السوق الخاص بنا

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على السوق الخاص بنا على السوق الخاص بنا على السوق

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الخاص بنا على السوق الخاص بنا على السوق الخاص بنا

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على السوق الخاص بنا على السوق الخاص بنا على السوق

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على السوق الخاص بنا على السوق الخاص بنا على السوق

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الخاص بنا على السوق الخاص بنا على السوق

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الخاص بنا على السوق الخاص بنا على السوق الخاص بنا

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وهنا لدينا الـ aggregate expenditure 1 الـ

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equilibrium يحدث أو الـ equilibrium الوحيد يحدث

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عندما Y يقل aggregate expenditure ومعرفة أن

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aggregate expenditure 1 يقل C plus I plus G، صحيح؟

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تمام؟ وهذا هو مقاومة الـ E1 هذا هو

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هذا هو نتيجة

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التوازن

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الحكومة تزوّد الناتج عن طريق

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استخدام سياسة مالية توسعية By increasing the

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government spending and or decreasing the taxes So

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what are the main consequences or effects or

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impacts of this policy on the aggregate

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expenditure So increasing the government spending

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leads to what? Increasing the aggregate

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expenditure or aggregate demand Which leads to

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what?ماذا هي التأثير التالف؟ بالضبط،

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تغيير الحركة العضلية التجاربية التجاربية التجاربية

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التجاربية التجاربية التجاربية التجاربية التجاربية

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التجاربية التجاربية التجاربية التجاربية التجاربية

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التجاربية التجاربية التجاربية التجاربية التجاربية

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التجاربية التجاربية التجاربية التجاربية التجاربية

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التجاربية التجاربية التجاربية التجاربية التجاربية

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التجاربية الت

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upward shifting of the aggregate expenditure مش هي

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اللي صار زيادة الانفاق زود ال aggregate

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expenditure وبتالي there is upward shifting of the

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aggregate expenditure function صح؟ صار في عندي هي

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ال aggregate expenditure function there is an

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upward shifting of the aggregate expenditure to

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aggregate expenditure 2 equals C plus I plus G2

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مظبوط؟ right؟شو صار في الناتج في ال aggregate

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output؟ this is E to exactly to Y2 so there is an

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increasing in the aggregate output from Y1 to Y2

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right صح ولا لأ؟ الزيادة في الناتج leads to

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increasing to aggregate income مظبوط؟ so let's

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follow or complete the analysis here increasing of

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Y means increasing of aggregate income

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Increasing in income شو بيعمل في ال money demand؟

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لذلك نحن لدينا تغيير كلمة صحيح للطريقة التي تتطلب

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المال إذا كنا نتكلم عن ماركت المال ، فهناك تغيير

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كلمة صحيح للطريقة التي تتطلب المال ، صح؟ إذا لو

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بدأ أجي لـ money demand curve أو ماركت المال ،

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نستطيع أن نرى ما

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هوالعامة المالية في العامة المالية لدينا مصادر

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المال والمصادر المالية دماغ دماغ دماغ دماغ دماغ

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دماغ دماغ دماغ دماغ دماغ دماغ دماغ دماغ دماغ دماغ

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دماغ دماغ دماغ دماغ دماغ دماغ دماغ دماغ دماغ دماغ

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دماغ دماغ دماغ دماغ دماغ دماغ دماغ دماغ دماغ دماغ

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دماغ دماغ دماغ دماغ دماغ دماغ دماغ دماغ دماغ دماغ

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دماغ دماغ دماغ

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دEQM1 So this is QM and this is R And this is E1

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Now the increasing in money demand leads to what?

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A rightward shifting exactly in the money demand

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curve وبالتالي هى فى عندي صار فى انتقال فى ال

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money demand curve لوين؟ لليمين to money demand 2

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صح ولا لأ؟ اذا .. so we have a new interest rate

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this is R2 increased مظبوط؟ طيب so the .. let's ..

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so this is A2 so let's come back to our analysis

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here as you see the increasing in money demand

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leads to what? increasing in the interest rate طب

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الزيادة في سعر الفائدة شو بتعمل في ال investment؟

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بتنزلوا there is an inverse relationship بين ال

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interest rate و ال investment هيوة لو بده أرجع

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لرسمها لجهة so the increasing and the interest

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rate leads to a decreasing in I or the planned

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investment مظبوط ولا لأ؟ لأنه أصلا خليني أنغطي هذا

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هيك بس بيسكت

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Okay رجع لك كمان شوية okay so the increasing in

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the interest rate leads to a decreasing in the

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planned investment مظبوط ولا لأ طب ال planned

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investment is part of aggregate expenditure صح

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exactly so we have a decreasing in aggregate

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expenditure مظبوط exactly yes with a smaller than

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the previousفيز طبعا هذا ايه اكي صار في and with a

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small مصبوح

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اذا شو اللي صار هل هيرجع ال aggregate expenditure

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شو يصير هيرجع ينزل مرة تانية بس بالنسبة بسيطة so

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here we have a downward shifting in the aggregate

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expenditure

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صح هيو جينا ليش ل aggregate expenditure three C

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plus I plus G two plus I two اللي نزلها so this is

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I two sorry this is I two so in the first case شو

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كان الوضع كان في عندي upward shifting and then we

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have a downward shifting with a small amountصح قال

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لها this leads to what the final this is a3 شو

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يعمل في النتيجة exactly so we have a small

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decreasing in the aggregate output اذا هنا we have

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a small decreasing in the aggregate expenditure

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leads to a smaller decreasing in y صح حيومثبت ولا

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لأ؟ صح؟ شوفوا هذا ال small decreasing اذا كانت

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الدولة او ال government مخطط انه يزيد الناتج from

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Y1 to Y2 يعني سببز انه بدي يزيد الناتج من 100

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مليون ل 300 مليون unfortunately as a result of or

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due to the crowding out صار في عنديdeduction or

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decreasing in the planned output صار قول 280 يعني

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هم كانوا مخططين يزودوا الناتج من 100 ل 300 لكن ما

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زادش ل 300 نزل او زاد من 100 ل 280 هذا الفرق ال

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decreasing بيسمو crowding out crowding out عارفين

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إيش يعني مزحمة

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مزحمة للخلف بالنتج يعني بمعنى ان النتج صار في اندي

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تزاحمات نتيجة ان ال interest rate طلع أثر على ال

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investment بالسلب وبالتالي صار في نزول في

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aggregate output ومن ثم هذا بيسموه crowding out

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effect تمام؟ اه شباب؟ اذا if you would like to

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analyze or to analyze yes the effect of

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Interest or the relationship between interest rate

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and the planned investment خلينا نعمل رسم هيك لل

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interest rate و ل planned investment This is R I

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and as you know that the relationship between R

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and I is what؟ Negative صح؟ أيوه

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هذا I وهذا رقم الاستثمار المخطط مظبوط؟ طيب اين هو

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الانترست الوحيد؟ وين كان الانترست الوحيد؟ هايه

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ماشي مع رسمها هيك هاي الانترست الوحيد او الانترست

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الوحيد اللي هو ال R1 مظبوط؟ هايها هذا R1 وهذا E1

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تطابق ما بين هذا وهذا؟ وهذا الانترست المخطط I1

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when the money demand increased شو اللي صار ال

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interest rate increased to

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E2 this is R2 and I has declined to I2 نفس الشغل

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اللي بنحكي فيه هذا هايو increasing in R leads to a

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decreasing in I مظبوط then aggregate expenditure

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declined and then Y declinedتمام؟ وهذا الانزول هنا

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اسمه crowding out تمام؟ مين مش فاهم عيدله؟ لأن

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المحاضرة هدف الجزء منها في الامتحان انا

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later on بحكيلك كيف بيجي السؤال بس بدي تفهم the

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most important issue is to understand what I say

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اه؟ طيب اذا let us summarize

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الحكومة تستخدم سياسة مالية توسعية باستخدام استخدام

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استخدام استخدام استخدام استخدام استخدام استخدام

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استخدام استخدام استخدام استخدام استخدام استخدام

167
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استخدام استخدام استخدام استخدام استخدام استخدام

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استخدام استخدام استخدام استخدام استخدام استخدام

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استخدام استخدام استخد

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which leads to increasing aggregate output and

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then increasing the aggregate income مظبوط؟ طيب

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increasing the aggregate income leads to

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increasing the money demand which leads to a

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rightward shifting of the money demand curve صح؟

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هى لأ و بدى أرجع شويه هيكUsing an expansion of

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fiscal policy means increasing the government

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spending leads to increasing aggregate expenditure

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from aggregate expenditure of the black line one

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to the aggregate expenditure two So Y has

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increased from Y one to Y two بصبو يعني if suppose

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من مية لتلت مية طب بعد هيك The increasing in money

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demand leads to increasing the interest rateصح؟ هي

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ال interest rate طلع من R1 to R2 وهي ينبين عندى

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هنا بال relationship between R and I او the

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planned investment curve هي increasing في ال

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interest rate طب عارفين احنا ال increasing في ال

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interest rate هو ال cost of borrowing وبالتالي ال

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investment بده يقل with a small amount اللي أثر

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تلقائيا على ال aggregate expenditure ومن ثم ال

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aggregate Yaggregate output or aggregate income

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واللي رجع الناتج بدل ما كنا مخططين زوده من Y1 ل Y2

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رح رجع شوية من Y2 ل Y3 هذا اسمه crowding out بس

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طبعا طيب سؤال امتى بيكونش فيه تأثير لسعر الفائدة

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على الاستثمار على ال investmentيعني لما بيزيد ال

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interest rate ال investment مازيدش بيجلش اه

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السؤال بيقول انه احنا بنقول انه ال crowding out او

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مشكلة ال crowding out ظهرت وين لما .. لما ارتفع

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سعر الفائدة نزل استثمار ومن ثم نزل الناتج صح؟ وهذا

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الإشكالي اللي احنا مخطط ان ازود ال Y ال Inca ال

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aggregate output من Y1 ل Y2 وبالتالي نتيجة انه

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حساسية ال sensitivity لل investment لسعر الفائدة

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هو اللي أثر على ان النتج يرجع لورا، مظبوط؟بس

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السؤالي أنا خليني أسأل السؤال وبعدين أخد منكم

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السؤال بيقول امتى جايك محمد هلأ السؤال بيقول انه

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ممكن نرفع سعر الفائدة بس الاستثمار ماينزلش وقتاش

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وبالتالي مافيش تأثير على ان ال income ال aggregate

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expenditure ينزل yes تاني

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لما يزيد نسبة ال government تمام بمقدار نسبة ال I

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نزولها؟ لأ السؤال يه انه وقتهش انه ال interest

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rate لما بيزيد ال investment ما بينزلش يسمحوا ..

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exactly thank you very much indeed yes yes لما

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بيكون ملحانة ال investment ال plant investment

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vertical line ها يو خليه vertical line شو اللي

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بيصير؟ارفع ال interest rate ال investment مينزلش

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خلّي ال investment curve vertical line خلّي عمودي

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هيك exactly خلّي ال investment هيك vertical line

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so this is R I وين ال interest rate الرئيسي؟ هيه

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this is A1وارتفع .. this is I1 R1 ارفع ال interest

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rate زود ال interest rate to R2 ال investment I2

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there is no decreasing in I عشان هيك لأ بتصير

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بتصير عشان هيك بيكون مافيش crowding out في حالة

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انه if the investment curve is vertical line معنى

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الكلام انه الاستثمار مش حساس لسه على الفئدة صح؟

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مظبوط؟ or the investment is not respond for the

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interest rate مظبوط؟ مافيش استجابة للارتفاعات في

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سعر الفدع تأثير على الاستثمار so in this case the

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crowding out equals what؟ zero exactly عشان هيك مش

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هيرجع تاني ينزل aggregate expenditure

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مفيش .. على .. it depends you have to analyze you

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have to collect data او information about the

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investment and interest rate و تشوف بالاخر احنا

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بندرس cases على كيف بدي اخليه جايكلك كيف اخليه

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thank you على سؤالك ازملكم بيسأل سؤال انه كيف بدي

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اخلي ال investment او اللي هو ال investment مش

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حساس او بدي ألغي تأثير سعر الفائدةعارفين شو بدى

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أعمله؟ بدى أرجع بس للرسم هاي و أحل لك المشكلة this

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is

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I مظبوط and this is R and I تمام according to our

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assumption this is E1

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E2 R1 R2 I1 I2 في عنده increasing في ال R و

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decreasing في ال I عشان ألغي تأثير to cancel the

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effects of interest rate على سعر الفائد ده شو بعمل

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الحل اللي قالك بسيطةالـ money supply كيف

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تعمل تزوّد ال money supply خلاص اعمل rightward

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shifting لـ money supply curve هيو جيبه هنا هيك

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خلصنا ثبت

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عشان ألغي تأثير ألغي crowding out زود ال money

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supply شو صار ال interest rate نزل وبالتالي بطل

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فيه التقى تأثير ال interest rate على ال investment

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Yes عبداللهبالتأكيد، بالتأكيد، لكي نحل المشكلة من

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المجتمع، المشكلة من المجتمع، لدينا أو الشركة

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الأساسية لتحفة المال، أو لإستخدام منظمة تحفيزية،

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نعم عبداللهOkay ماشي بس أنا the question is how

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could we solve the crowding out effect يعني كيف

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بدي ألغى تأثير هذا تأثير الارتفاع في سعر الفائدة؟

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هذا الرد ع سؤالك وصلة تمام So as we mentioned that

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using an expansionary fiscal policy as you see

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leads to increasing aggregate expenditure then

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aggregate output aggregate income increasing money

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demand increasing interest rate decreasing I and

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so on So the crowding out problem or the crowding

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out ethic has been created whenوين تولدت فكرة أو

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مشكلة لـ crowding out when the government use an

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expansionary fiscal policy صح؟ طيب، بدأ أروح

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أستخدم let us use a contractionary fiscal policy

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يعني أنا بدأ أستخدم إشي معاكس بمعنى إنه أنا بدأ

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أستخدم contractionary fiscal policy by decreasing

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the government spending and or increasing the

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taxes خلينا نشوفوبدأ أشوف التأثير على ال three ..

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على ال three .. ال analysis على ال three diagrams

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هدول تمام؟ طيب So

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let's use a contractionary fiscal policy

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expansionary

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سياسة مالية انكماشية by decreasing the government

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spending or increasing the taxesيا بدنا ننزل انفاق

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maybe ممكن يكون في علنا inflation عشان هيك

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استخدموا سياسة مالية انكماشية بدهم يخفضوا ال

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inflation عشان هيك راحوا يستخدموا سياسة مالية

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انكماشية تمام؟ يمكن هذا ال reason هذا السبب او

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اللي يعني اللي اللي خلهم يستخدموا contractionary

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fiscal policy خلينا نشوف شو ال effects او ال

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impact of this policy on the goods market والمoney

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market وال investment in general تمام؟ soas you as

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we mentioned that the decreasing in g leads to a

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decreasing in aggregate expenditure because g is

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part of aggregate expenditure so a decreasing in g

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leads to a decreasing in aggregate expenditure or

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a decreasing in aggregate demand هدوين

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بوديني على decreasing in y aggregate output or

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aggregate income مظبوطالـ Decreasing في الـ

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aggregate output أو الـ Income شو معناه ده؟ leads

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to a decreasing of money demand صح؟

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decreasing في ال money demand we have a leftward

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shifting of the money demand curve خليني أشوفها

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أولا بدي أوديني هذاطب هتقول بيوديني ان ال interest

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rate هينزل صح؟ so the leftward shifting of money

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00:24:12,500 --> 00:24:16,820
demand curve leads to a decreasing in R which

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means increasing of I و

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اللي بيوديني ع وين increasing of

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aggregate expenditure with a small amount

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ومن ثم increasing في ال Y with a small هذا اسمه

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crowding in شوفت العكس؟ يعني كوننا مخططين ننزل

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الناتج يعني

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من رقم لرقم، من 300 ل100، لكن نتيجة التزاحمات اللي

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صارت أو تأثير الإيجاب لسعر الفائدة زود الناتج

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بمقدار بسيطلا بيبقى لها مستمرة بس بس you have to

307
00:25:07,520 --> 00:25:10,920
understand the analysis يعني هذا اللي بديك تفهمه

308
00:25:10,920 --> 00:25:15,480
اللي بدك إذا بتمشي في السلسلة بتروح آه يعني إذا

309
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بدي أمشي بالتحليل بروح على سوق ال labor market و

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بروح على سوق ال bonds و الهذا بس أنا مش رايح

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باتجاهات هذه يعني للتبسيط هي التحليل التبعيبس

312
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تفهموا .. يعني it's far enough for you to

313
00:25:31,250 --> 00:25:34,570
understand this يدرس advanced لطلاب التخصص في

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00:25:34,570 --> 00:25:39,050
الاقتصاد حتى يدرس في المصدر كمان مش بس .. let's

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00:25:39,050 --> 00:25:42,330
come back here to analyze the contractual fiscal

316
00:25:42,330 --> 00:25:48,230
policy هذا

317
00:25:48,230 --> 00:25:53,470
في ال goods market و .. and this is in the money

318
00:25:53,470 --> 00:26:05,160
marketand this is the investment curve نيجي هان y

319
00:26:05,160 --> 00:26:12,800
aggregate expenditure one c

320
00:26:12,800 --> 00:26:18,600
plus i plus g نقول one تمام؟ لأن أنا بدي نزل ال g

321
00:26:18,600 --> 00:26:31,540
and this is a one y oneتمام؟ طيب الـ decreasing في

322
00:26:31,540 --> 00:26:34,800
الـ G أمل decreasing في ال aggregate expenditure

323
00:26:34,800 --> 00:26:37,480
so we have a downward shifting في ال aggregate

324
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expenditure function صح؟ في عندى نزول في ال

325
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aggregate expenditure function وليه صارت هيك؟طبعا

326
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هذا بيكون Parallel للتاني بشكل موازي So this is

327
00:26:51,480 --> 00:26:56,040
aggregate expenditure to C plus I plus G2 اللي هو

328
00:26:56,040 --> 00:27:01,580
فيه اندزول في ال government spending تمام؟ طيب So

329
00:27:01,580 --> 00:27:06,960
we have a new equilibrium which point E2 and this

330
00:27:06,960 --> 00:27:15,770
is Y2 Suppose أنه كنا بدنا ننزل الناتج من 400400$

331
00:27:15,770 --> 00:27:22,410
ل 150$ هذا هو

332
00:27:22,410 --> 00:27:26,630
المخطط التبعي ان انا بدأ نزل الناتج من 400$ ل 150$

333
00:27:26,630 --> 00:27:36,190
طيب شو نصار لنذهب لـ money market هذا

334
00:27:36,190 --> 00:27:42,150
ال money supply one money demand one and this is

335
00:27:42,150 --> 00:27:50,530
the QMR أين المناطق المتساويه هنا هذا E1 وهذا R1

336
00:27:50,530 --> 00:27:54,730
اتباه طيب ال decreasing اللي صار في ال aggregate

337
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expenditure شو يعمل في النتج نزل from Y1 to Y2 صح

338
00:28:00,490 --> 00:28:05,050
ومن ثم ال aggregate income نزل هايه this is

339
00:28:05,050 --> 00:28:10,450
aggregate outputor a great income ومن ثم ال money

340
00:28:10,450 --> 00:28:15,610
demand decline صح؟ so there is a leftward shifting

341
00:28:15,610 --> 00:28:23,070
in the money demand curve ايو مدتو exactly شو صار

342
00:28:23,070 --> 00:28:28,110
في ال interest rate نزل exactly so we have this is

343
00:28:28,110 --> 00:28:33,190
a2 r2 we have a decreasing in the interest rate

344
00:28:34,310 --> 00:28:45,670
خلّينا نرسم منحنا ال investment this is R I where

345
00:28:45,670 --> 00:28:53,210
is the original interest rate هاي و هيك this is E1

346
00:28:53,210 --> 00:28:59,330
R1 we have a decreasing in R and this is I1

347
00:29:02,430 --> 00:29:09,710
we have a decreasing in R to E2 R2 we have a

348
00:29:09,710 --> 00:29:17,030
decreasing in R and increasing in I مظبوط؟

349
00:29:17,030 --> 00:29:21,570
صح ولا لأ؟ هدا وين وداني؟ ال increasing in I leads

350
00:29:21,570 --> 00:29:25,830
to an increasing in aggregate expenditure and then

351
00:29:25,830 --> 00:29:29,470
Y with a small amount اللي هو ال crowding in إذا

352
00:29:29,470 --> 00:29:34,520
خلينا نرسمه بال bloom lineهيو شفتوا قداش نزل

353
00:29:34,520 --> 00:29:37,720
بالأول بدي أرجع أرفعه بحاجة بسيطة اللي هو ال

354
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aggregate expenditure هنا هيو

355
00:29:43,520 --> 00:29:48,980
there is a new equilibrium point صح هيا suppose it

356
00:29:48,980 --> 00:29:58,890
was E تلاتة this is Y3 شو معناها ده؟Crowding in

357
00:29:58,890 --> 00:30:07,850
exactly كنا مخططين نزل الناتج من Y1 ل Y2 راح نزل

358
00:30:07,850 --> 00:30:11,750
بس من Y1 ل Y3 اللي هو المسافة هاي، مظبوط ولا لأ؟

359
00:30:11,750 --> 00:30:16,150
يعني لأنه رجع زاد الناتج شوية which called the

360
00:30:16,150 --> 00:30:22,810
crowding in تمام؟ مين مش فاهم عيدله؟ صعب الأمور؟

361
00:30:23,550 --> 00:30:27,490
يعني لو جيبناكوا في الامتحان انه اعملوا تحليل ال

362
00:30:27,490 --> 00:30:29,990
analysis تبع ليه crowding out او crowding in

363
00:30:29,990 --> 00:30:32,970
بتقدروا تعمله by using expansion of fiscal policy

364
00:30:32,970 --> 00:30:35,090
او expansion of monetary policy او اللي هو هذا

365
00:30:35,090 --> 00:30:39,650
بتقدروا تعمله طيب تمام let's go to هل كده خلصنا من

366
00:30:39,650 --> 00:30:41,570
تحليل السياسات ال

367
00:30:46,170 --> 00:30:50,670
السياسة المالية اللي هي ال expansionary fiscal or

368
00:30:50,670 --> 00:30:54,510
contractionary fiscal policy on the goods market

369
00:30:54,510 --> 00:30:57,510
and the money market خلينا نروح على ال monetary

370
00:30:57,510 --> 00:31:01,670
policy يعني سببوز إننا نستخدم expansionary

371
00:31:01,670 --> 00:31:06,240
monetary policymaybe by increasing the money

372
00:31:06,240 --> 00:31:11,060
supply or something like this طيب اذا مين مش فاهم

373
00:31:11,060 --> 00:31:14,920
طب شباب اعيدله جزئية التحليل المالي هذا مافيش

374
00:31:14,920 --> 00:31:18,420
مشكلة طيب اذا هداك اسهل ان شاء الله هيكون خليني

375
00:31:18,420 --> 00:31:26,100
اروح ل ال monitor policy امسح امسح شباب okay

376
00:31:35,750 --> 00:31:38,530
Expansion fiscal policy ولا فيه ال contractionary

377
00:31:38,530 --> 00:31:44,430
دائما ال expansionary بتولد مشكلة crowding out ال

378
00:31:44,430 --> 00:31:48,150
contractionary بتولد او بتظهر اندي اللي هو

379
00:31:48,150 --> 00:31:53,240
crowding in تمام للفهم هذالأنه هتظهر عندى كمان

380
00:31:53,240 --> 00:31:57,120
شوية في ال expansionary monetary هيظهر فيها

381
00:31:57,120 --> 00:32:01,100
crowding out دايما expansionary بظهر معاه crowding

382
00:32:01,100 --> 00:32:05,460
out contractionary whether it was monetary او

383
00:32:05,460 --> 00:32:10,080
fiscal بيظهر عندى crowding in تمام خلينا نشوف so

384
00:32:10,080 --> 00:32:15,120
let's go to the to use an expansionary monetary

385
00:32:15,120 --> 00:32:20,240
policy expansionary رجعنا الصور بس شباب

386
00:32:29,080 --> 00:32:38,400
Expansionary Monetary Policy تمام؟

387
00:32:38,400 --> 00:32:42,480
طيب شو معنى Expansionary Monetary Policy؟ يعني

388
00:32:42,480 --> 00:32:45,580
تزوّد المال الـ supply صح؟ طب كيف تزوّد المال الـ

389
00:32:45,580 --> 00:32:50,350
supply؟يا اما بدى اقلل الـ discount rate او بدى

390
00:32:50,350 --> 00:32:54,290
اقلل required reserve ratio او شو بدى اعمل؟ بدى

391
00:32:54,290 --> 00:32:57,590
اشتري bonds بظبط لان اذا شريت bonds باعتلى الناس

392
00:32:57,590 --> 00:33:02,810
فلوس وبتاع ال money supply بده increase صح؟ اذا I

393
00:33:02,810 --> 00:33:06,810
have to use when I .. when the central bank use an

394
00:33:06,810 --> 00:33:10,250
expenditure monitor policy this means increasing

395
00:33:10,250 --> 00:33:15,670
the money supply by whether to decrease the

396
00:33:15,670 --> 00:33:16,570
discount rate

397
00:33:19,620 --> 00:33:23,320
or decreasing the required reserve ratio or

398
00:33:23,320 --> 00:33:32,600
purchasing bonds or buying bonds مظبوط؟

399
00:33:32,600 --> 00:33:34,720
مش هي التلات أدوات اللي بيستخدمها ال central bank

400
00:33:34,720 --> 00:33:37,640
أو ال federal reserve system عشان يزوّذ ال money

401
00:33:37,640 --> 00:33:40,840
supply طيب زيادة ال money supply بدأ أبدأ بال

402
00:33:40,840 --> 00:33:46,100
money supply هي this is the money market تمام؟ و

403
00:33:46,100 --> 00:33:46,460
هذا

404
00:33:51,550 --> 00:33:55,710
الـ investment line أو curve وهذا ال goods and

405
00:33:55,710 --> 00:34:00,870
services market بال

406
00:34:00,870 --> 00:34:03,350
money market بدأنا بإيش increasing بال money

407
00:34:03,350 --> 00:34:09,510
supply هاي ال money supply vertical line MS1 and

408
00:34:09,510 --> 00:34:13,430
this is the money demand curve one suppose ان وان

409
00:34:13,430 --> 00:34:21,290
هيك this is E1 R1 QM1

410
00:34:23,880 --> 00:34:30,660
RQM بعدين انا بشوف هنا وخلّي هذا this is the

411
00:34:30,660 --> 00:34:37,500
investment curve ر I هذا

412
00:34:37,500 --> 00:34:42,580
money market و هذا ال investment curve و هذا ال

413
00:34:42,580 --> 00:34:45,280
goods market خلّيني اعمل ال original equilibrium

414
00:34:45,280 --> 00:34:49,680
point Y

415
00:34:51,270 --> 00:35:02,030
aggregate expenditure one c plus i plus g and this

416
00:35:02,030 --> 00:35:07,950
is a one y

417
00:35:07,950 --> 00:35:15,960
one y aggregate expenditure نيجي للتحليل تبعناالـ

418
00:35:15,960 --> 00:35:17,700
increasing في ال money supply شو بيعمل في ال money

419
00:35:17,700 --> 00:35:21,240
supply curve؟ exactly في عندنا rightward shifting

420
00:35:21,240 --> 00:35:24,320
في مين؟ في ال money supply curve هي انقلوا لليمين

421
00:35:24,320 --> 00:35:28,280
ل

422
00:35:28,280 --> 00:35:34,100
MS2 شو صار في ال interest rate؟ exactly so we have

423
00:35:34,100 --> 00:35:39,560
a decreasing في ال interest rate to R2 this is A2

424
00:35:39,560 --> 00:35:45,240
مابتقالي ال quantity of money increasedمظبوط؟ اذا

425
00:35:45,240 --> 00:35:48,020
ال interest rate وين القديم؟ لو بدي أجي أعمل

426
00:35:48,020 --> 00:35:54,600
القديم هيك هذا ال original interest rate صح؟ R1 E1

427
00:35:54,600 --> 00:36:01,000
و هذا ال I1 مظبوط؟

428
00:36:01,000 --> 00:36:05,180
ولا مش مظبوط؟ طيب ال rightward shifting في ال

429
00:36:05,180 --> 00:36:08,200
money supply شو يعمل في ال interest rate؟ نزل ال

430
00:36:08,200 --> 00:36:11,280
interest rate وبالتالي في عنده interest rate جديد

431
00:36:11,280 --> 00:36:12,140
هنا هيك

432
00:36:15,070 --> 00:36:21,150
E2 هيزيد ال investment exactly this is R2 وهذا I2

433
00:36:21,150 --> 00:36:26,450
مظبوط؟ صح؟ طيب إذا خلّيني نمشي بالتحليل فوق هكذا

434
00:36:26,450 --> 00:36:31,910
MS increased from MS1 to MS2 leads to what

435
00:36:31,910 --> 00:36:36,950
increasing او decreasing in the interest rate طب

436
00:36:36,950 --> 00:36:38,650
ال decreasing اللي صار في ال interest rate شو

437
00:36:38,650 --> 00:36:42,510
بيعمل في ال I؟ بيزود ال I ومن ثم

438
00:36:45,270 --> 00:36:49,690
بـ increasing في ال aggregate expenditure صح؟

439
00:36:49,690 --> 00:36:57,750
مظبوط؟ هذا وين بوديني؟ increasing in Y صح؟ طيب

440
00:36:57,750 --> 00:37:04,330
خليني نعمله هنا في ال goods market decreasing

441
00:37:04,330 --> 00:37:08,170
في ال R increasing I increasing aggregate

442
00:37:08,170 --> 00:37:11,570
expenditure و من ثم increasing Y so there is an

443
00:37:11,570 --> 00:37:13,530
upward shifting في مين؟ في ال aggregate

444
00:37:13,530 --> 00:37:18,870
expenditureهي بشكل بنحكي إذا هذا aggregate

445
00:37:18,870 --> 00:37:27,270
expenditure to C plus I2 لأن I اللي اتغير plus G

446
00:37:27,270 --> 00:37:31,050
صح

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00:37:31,050 --> 00:37:33,810
صح صح صح صح صح صح صح صح صح صح صح صح صح صح صح صح صح

448
00:37:33,810 --> 00:37:33,970
صح صح صح صح صح صح صح صح صح صح صح صح صح صح صح صح صح

449
00:37:33,970 --> 00:37:35,890
صح صح صح صح صح صح صح صح صح صح صح صح صح صح صح صح صح

450
00:37:35,890 --> 00:37:35,950
صح صح صح صح صح صح صح صح صح صح صح صح صح صح صح صح صح

451
00:37:35,950 --> 00:37:36,030
صح صح صح صح صح صح صح صح صح صح صح

452
00:37:40,880 --> 00:37:45,580
مظبوط ولا لأ؟ صار في عندي upward shifting في ال

453
00:37:45,580 --> 00:37:48,900
aggregate expenditure function صح؟ شو صار في

454
00:37:48,900 --> 00:37:54,880
النتج؟ زياد من Y1 to Y2 طب شو اللي صار لما زياد ال

455
00:37:54,880 --> 00:38:00,500
Y؟ أكثر على ال money demand مظبوط؟ زيادة ال Y ال

456
00:38:00,500 --> 00:38:03,520
aggregate output او aggregate income بيزود ال

457
00:38:03,520 --> 00:38:07,980
money demand طب زيادة ال money demand شو بتعمل في

458
00:38:07,980 --> 00:38:11,500
ال interest rate؟بتزيده هى اعمل بصير فيه هنا end

459
00:38:11,500 --> 00:38:16,060
ايش rightward shifting ل money demand curve هى اذا

460
00:38:16,060 --> 00:38:20,260
فى الفيزي التانى صار فى عنا increasing فى ال money

461
00:38:20,260 --> 00:38:24,680
demand هى وان ال money demand هى سببز انه اجى هيك

462
00:38:24,680 --> 00:38:28,420
to money demand 2

463
00:38:34,840 --> 00:38:39,000
وين الـ Intersection ما بين الـ MS2 و MD2؟ هايو،

464
00:38:39,000 --> 00:38:42,400
الأحمر و الأزرق هذا We have a new interest rate

465
00:38:42,400 --> 00:38:47,780
وبتلادى نزل سعر الفائدة from .. او sorry طلّع سعر

466
00:38:47,780 --> 00:38:56,060
الفائدة from R2 to R3 مظبوط؟ ودّاني على E3 ومن ثم

467
00:38:56,060 --> 00:39:02,900
ال interest rate زاد from R2 to R3 و ال investment

468
00:39:02,900 --> 00:39:11,860
نزلfrom I2 to I3 صح؟ اذا هينهان هيك the increasing

469
00:39:11,860 --> 00:39:14,760
in money demand increasing في ال money demand شو

470
00:39:14,760 --> 00:39:20,680
يعمل increasing في ال R decreasing I decreasing

471
00:39:20,680 --> 00:39:25,080
aggregate expenditure decreasing Y وهذا اسمه a

472
00:39:25,080 --> 00:39:29,700
crowding ايش out هيو حيرجع شويه هيك

473
00:39:33,280 --> 00:39:38,060
هذا الانزول البسيط اسمه crowding out لان انا مخطط

474
00:39:38,060 --> 00:39:46,180
ازود الناتج من Y1 ل Y2 لكن حقيقة رجع شويه وصار Y3

475
00:39:46,180 --> 00:39:51,870
اذا according to my planمخطط ليه ان ازالة عدد

476
00:39:51,870 --> 00:40:01,330
الانترنت من Y1 ل Y2 بسبب ازالة الانترنت من Y1 ل Y2

477
00:40:01,330 --> 00:40:05,930
بسبب ازالة انترنت من Y1 ل Y2 بسبب ازالة انترنت من

478
00:40:05,930 --> 00:40:13,930
Y1 ل Y2 بسبب ازالة انترنت من Y1 ل Y2اللي بيظل ال

479
00:40:13,930 --> 00:40:17,270
case الأخير اللي هو ال contractionary monetary

480
00:40:17,270 --> 00:40:21,130
policy الحال المعاكسة بمعنى أنه هاي في عنده

481
00:40:21,130 --> 00:40:25,810
contractionary monetary policy ال expansionary

482
00:40:25,810 --> 00:40:29,210
monetary policy شوفنا ال crowding out ظهرت بدي

483
00:40:29,210 --> 00:40:33,310
أشوف ال contractionary monetary policy بس وضحت

484
00:40:33,310 --> 00:40:36,150
الصورة ولا مش مرة جاية بنكمل الجزئية