Lecture Economics (19/e) - Chapter 29-Appendix: Aggregate demand and aggregate supply

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Lecture Economics (19/e) - Chapter 29-Appendix: Aggregate demand and aggregate supply

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After completing this chapter, students will be able to: Describe how the aggregate demand-aggregate supply model explains periods of demand-pull inflation, cost-push inflation, and recession; identify how the aggregate demand curve relates to the aggregate expenditures model.

29A Appendix Aggregate Demand and Aggregate Supply McGraw­Hill/Irwin         Copyright © 2012 by The McGraw­Hill Companies, Inc. All rights reserved Derivation of Aggregate Demand Aggregate Expenditures (billions of dollars) LO1 LO1 LO1 45° Price Level AE1 (at P1 ) AE2 (at P2 ) AE3 (at P3 ) P3 P2 P1 AD Q3 LO5 Q2 Q1 Real Domestic Product, GDP 29App-2 Aggregate Demand Shifts AE2 (at P1 ) AE1 (at P1 ) P1 AD2 AD1 Q1 LO5 Q2 29App-3 ...Derivation of Aggregate Demand Aggregate Expenditures (billions of dollars) LO1 LO1 LO1 45° Price Level AE1 (at P1 ) AE2 (at P2 ) AE3 (at P3 ) P3 P2 P1 AD Q3 LO5 Q2 Q1 Real Domestic Product, GDP 29App-2 Aggregate Demand Shifts... P1 AD Q3 LO5 Q2 Q1 Real Domestic Product, GDP 29App-2 Aggregate Demand Shifts AE2 (at P1 ) AE1 (at P1 ) P1 AD2 AD1 Q1 LO5 Q2 29App-3

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Mục lục

  • Aggregate Demand and Aggregate Supply

  • Derivation of Aggregate Demand

  • Aggregate Demand Shifts

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