Chapter 10 Macro
As prices drop, the amount of real gross domestic product purchased (AD) increases. AD = C + I + G + XN Like all demand curves, AD increases to the right and decreases to the left. Will this cause continued sloe growth in AD and resulting GDP?
III. Aggregate supply (AS)
Like all supply curves,
AS increases to the right and
equilibrium AD/AS intersect
V. Dynamic equilibrium depicts changes in AD and AS over time
A. GDP grows to Q'. B. Prices increase to P'.
Dynamix Equilibrium Examples 4 min. video
V. Videos, Readings and Stuff for Econ Majors
AD, AS, and Long Run Aggregate Supply- ACDC Economics
Aggregate Demand and Aggregate Supply model
The Aggregate Demand and Aggregate Supply Model
by Dennis Kaufman of the University of Wisconsin-Parkside
is a criticism of econometric policy evaluation
procedures that fail to recognize that optimal decision rules of
economic agents vary systematically with changes in policy.
US macro disequilibria (Oct 2008)
What is economic equilibrium explores a few kinds. 4/10/13, N. Smith
D. Videos for econ majors
Crash Course in Non-Equilibrium Economics
Non-Equilibrium Economics Schumpeter, Fisher and Keynes 5/5/14
AD As at E
Note: There are no Quick Questions questions associated with this chapter as the material will be reexamined and questions posed in the next few chapters.
|Last Chapter||Next Chapter|
|Chapter 10 Class Discussion Questions||Table of Contents|
|Chapter 10 Homework Questions||Economics Internet Library|