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Unit 3: Aggregate Demand, Aggregate Supply, and Fiscal Policy AD, AS, and LRAS Short Run vs....


Unit 3: Aggregate Demand, Aggregate Supply, and Fiscal Policy AD, AS, and LRAS Short Run vs. Long Run Aggregate Supply Draw t
Unit 3: Aggregate Demand, Aggregate Supply, and Fiscal Policy AD, AS, and LRAS Short Run vs. Long Run Aggregate Supply Draw the economy at full employment 1. In the short run, wages and resource prices will as price levels increase 2. In the long run, wages and resource prices will as price levels increase Shifters of AD and AS Shifters of Aggregate Demand Shifters of Aggregate Supply imi Recessionary Gap Draw an economy in a recession Inflationary Gap Draw an economy with an inflationary gap Graphing Practice Draw an economy at full employment. Show what happens to price level and GDP if consumption falls Define Key Terms Negative Supply Shock- Positive Supply Shock- Stagflation- Autonomous Consumption- Disposable Income-
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Unit 3: aggregate demand, aggregate supply and fiscal policy.

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