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5. Aggregate Demand and Aggregae Supply (AD-AS) Model (Chapter 13) 5.1 Why does the short-run aggregate supply curve slope upward? 5.2 Explain how each of the following events would affect the long-run aggregate supply curve A lower price level а. b. A decrease in the labor force c. A decrease in the quantity of capital goods d. Technological change 5.3 Starting from long-run equilibrium, use the basic aggregate demand and aggregate supply diagram to show what happens in both the long run and the short run when there is a decline in wealth. Explain how the economy moves back to full employment 5.4 Starting from long-run equilibrium, use the basic aggregate demand and aggregate supply diagram to show what happens in both the long run and the short run when there is an increase in wealth. Explain how the economy moves back to full employment

5. Aggregate Demand and Aggregae Supply (AD-AS) Model (Chapter 13) 5.1 Why does the short-run aggregate supply curve slope upward? 5.2 Explain how each of the following events would affect the long-run aggregate supply curve A lower price level а. b. A decrease in the labor force c. A decrease in the quantity of capital goods d. Technological change 5.3 Starting from long-run equilibrium, use the basic aggregate demand and aggregate supply diagram to show what happens in both the long run and the short run when there is a decline in wealth. Explain how the economy moves back to full employment 5.4 Starting from long-run equilibrium, use the basic aggregate demand and aggregate supply diagram to show what happens in both the long run and the short run when there is an increase in wealth. Explain how the economy moves back to full employment

Brief Principles of Macroeconomics (MindTap Course List)
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter15: Aggregate Demand And Aggregate Supply
Section: Chapter Questions
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5. Aggregate Demand and Aggregae Supply (AD-AS) Model (Chapter 13) 5.1 Why does the short-run aggregate supply curve slope upward? 5.2 Explain how each of the following events would affect the long-run aggregate supply curve A lower price level а. b. A decrease in the labor force c. A decrease in the quantity of capital goods d. Technological change 5.3 Starting from long-run equilibrium, use the basic aggregate demand and aggregate supply diagram to show what happens in both the long run and the short run when there is a decline in wealth. Explain how the economy moves back to full employment 5.4 Starting from long-run equilibrium, use the basic aggregate demand and aggregate supply diagram to show what happens in both the long run and the short run when there is an increase in wealth. Explain how the economy moves back to full employment
Transcribed Image Text:5. Aggregate Demand and Aggregae Supply (AD-AS) Model (Chapter 13) 5.1 Why does the short-run aggregate supply curve slope upward? 5.2 Explain how each of the following events would affect the long-run aggregate supply curve A lower price level а. b. A decrease in the labor force c. A decrease in the quantity of capital goods d. Technological change 5.3 Starting from long-run equilibrium, use the basic aggregate demand and aggregate supply diagram to show what happens in both the long run and the short run when there is a decline in wealth. Explain how the economy moves back to full employment 5.4 Starting from long-run equilibrium, use the basic aggregate demand and aggregate supply diagram to show what happens in both the long run and the short run when there is an increase in wealth. Explain how the economy moves back to full employment
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