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Aggregate Demand and Aggregate Supply (+ Appendix)


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IN THIS CHAPTER YOU WILL LEARN:

  1. About aggregate demand (AD) and the factors that cause it to change.


  2. About aggregate supply (AS) and the factors that cause it to change.


  3. How AD and AS determine an economy's equilibrium price level and level of real GDP.


  4. How the AD-AS model explains periods of demand-pull inflation, cost-push inflation, and recession.


  5. (Appendix) How the aggregate demand curve relates to the aggregate expenditures model.












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