\documentclass[a4paper, 12pt]{article}
%Paragraph jumps and indentation
\setlength{\parskip}{1.6em}
\setlength{\parindent}{1.27cm}
%Border
\usepackage[left=1in, right=1in, top=1in, bottom=1in]{geometry}
%Double spacing
\usepackage{setspace}
\doublespacing
\usepackage{blindtext}
\raggedright
%font
\usepackage{times}
\setlength{\parindent}{1.27cm}
\begin{document}
\noindent \textbf{\underline{Microeconomics Commentary}}
\indent Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.
\end{document}
答案1
\raggedright设置\parindent为 0pt，所以如果（不寻常）你想要使用不规则设置的缩进，只需移动
\setlength{\parindent}{1.27cm}
后
\raggedright
使用正号缩进也是不常见的\parskip。通常，您使用垂直空格或水平缩进来标记段落，实际上并不需要两者。