Karteikarten
Aggregate Supply and Demand
Karten in diesem Stapel (7)
- 1Aggregate Demand Curveshows quantity of goods that all economic agents want to buy at each price level
all four components of GDP - 2Aggregate Supply Curvequantity of goods and services firms choose to sell at each price level
- 3Slope of the Aggregate Demand CurveConsumption: low price level causes more consumption
Investment: low price level reduces interest rate, more spending on investment goods
Net Exports: low price level, exchange rate depreciates, more exports - 4Long Run Aggregate Supply Curvevertical natural rate of output, may shift due to labour, capital, natural resources, technology
- 5Short Run Aggregate Supply Curveoutput deviates from natural rate when price level deviates, time to adjust
- 6Contraction in Aggregate Demandoutput falls in short run, short run AS will adjust, and output will return to natural rate at lower price level
- 7Adverse Shift in Aggregate Supplyprice level rises, unemployment up, output down
stagflation caused, output down but prices up
Informationen
- Beschreibung
- 1000 Intro to Economics (Aggregate Supply and Demand ) Karteikarten am Aggregate Supply and Demand, erstellt von Megan Clermont am 15/04/2016.
- Erstellt von
- Megan Clermont
- Aufrufe
- 1
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