Aggregate Demand and Supply Model
Learn about the fundamental concepts and models of macroeconomics including Aggregate Demand and Supply, Say’s Law, Keynes’ Law, Equilibrium, and the impact of productivity growth, input prices, and government policies on the economy.
Introduction to the Aggregate Demand/Aggregate Supply Model
Say’s Law and the Macroeconomics of Supply
Keynes’ Law and the Macroeconomics of Demand
Combining Supply and Demand in Macroeconomics
Key Concepts and Summary
The Aggregate Supply Curve and Potential GDP
The Aggregate Demand Curve
Equilibrium in the Aggregate Demand/Aggregate Supply Model
Defining SRAS and LRAS
Key Concepts and Summary
How Productivity Growth Shifts the AS Curve
How Changes in Input Prices Shift the AS Curve
Other Supply Shocks
Key Concepts and Summary
Shifts in Aggregate Demand
How Changes by Consumers and Firms Can Affect AD
How Government Macroeconomic Policy Choices Can Shift AD
Key Concepts and Summary
How the AD/AS Model Incorporates Growth, Unemployment, and Inflation
Growth and Recession in the AD/AS Diagram
Unemployment in the AD/AS Diagram
Inflationary Pressures in the AD/AS Diagram
Importance of the Aggregate Demand/Aggregate Supply Model
Key Concepts and Summary
Keynes’ Law and Say’s Law in the AD/AS Model
Key Concepts and Summary