Macroeconomics, 9/e

Campbell R. McConnell, University of Nebraska, Lincoln
Stanley L. Brue, Pacific Lutheran University
Thomas P. Barbiero, Ryerson University

Aggregate Demand and Aggregate Supply

Chapter Objectives

In this chapter you will learn:

Why the aggregate demand curve is downward sloping, and what factors shift the entire curve.

What determines the shape of the short run aggregate supply curves, and what factors shift the entire curve.

How the equilibrium price level and real GDP are determined.

The distinction between the short-run and long-run supply curve.

The nature and causes of recessionary and inflationary gaps.

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