Due Tues. 12/6
1. Review the 3 explanations for the downward sloping aggregate demand curve.
2. Identify each of the factors shifting AD. How would each factor cause AD to increase? Decrease?
Due Wed. 12/7
1. Define short run aggregate supply (SRAS).
2. Why is the SRAS curve upward sloping?
3. Identify each factor shifting SRAS. How would each factor cause SRAS to increase? Decrease?
Due Friday. 12/9
1. What is the Long Run Aggregate Supply Curve and why is it vertical?
2. What does long run equilibrium (where LRAS and AD meet) tell us?
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