Lecture Issues in economics today - Chapter 8: Aggregate demand and aggregate supply
Lecture Issues in economics today - Chapter 8: Aggregate demand and aggregate supply
When you finish this chapter, you should: Apply and manipulate the aggregate supply and aggregate demand model of macroeconomics, explain why the aggregate demand curve is downward-sloping and why there is controversy over the shape of the aggregate supply curve, list the variables that shift these curves and understand how the shifting translates into price and output impacts, discriminate between demand-pull and cost-push inflation, summarize what is meant by supply-side economics.