Before Class on Tuesday, November 30th
OpenStax (2021) – 11.1 & 11.2
(optional)
OpenStax 11.3 & 11.4
Marginal University (2021)
In Class
Week15-ASAD
Before Class on Friday, December 3rd
Have completed or attempted all of Weekly Review 11
Material Links
OpenStax. (2021). “Macroeconomic Perspectives on Demand and Supply.” Principles of Macroeconomics (second edition). https://openstax.org/books/principles-macroeconomics-2e/pages/11-1-macroeconomic-perspectives-on-demand-and-supply
OpenStax. (2021). “Building a Model of Aggregate Demand and Aggregate Supply.” Principles of Macroeconomics (second edition). https://openstax.org/books/principles-macroeconomics-2e/pages/11-2-building-a-model-of-aggregate-demand-and-aggregate-supply
OPTIONAL
Marginal University. https://www.youtube.com/playlist?list=PLaZU7UOmD4OGRLhk7bLsFrJMc162jLfrz
In this series, Aggregate Demand might be the most helpful. Long Run Aggregate Supply and Short Run Aggregate Supply present an alternative to the Aggregate Supply curve we are using, representing the so-called “neoclassical synthesis”
At the far left of the aggregate supply curve, what does the AS curve define as the amount of real GDP an economy can produce
⁃ What can encourage a considerable surge in the quantity of aggregate supply?
⁃ What will induce firms to expand production if they face a situation where the price level of what they produce and sell is not rising?
At the far left of the aggregate supply curve, what does the AS curve define as the amount of real GDP an economy can produce?
What can encourage a considerable surge in the quantity of aggregate supply?
What will induce firms to expand production if they face a situation where the price level of what they produce and sell is not rising?