Aggregate Demand and Aggregate Supply
By the end of this chapter you will be able to:
1. Define aggregate demand and explain why the aggregate demand curve has a negative slope.
2. Identify seven factors that can shift the position of the aggregate demand curve.
3. Describe how aggregate demand is affected by fiscal and monetary policy actions.
4. Distinguish between the short run and the long run.
5. Explain the slope and location of the long-run aggregate supply curve.
6. Explain the slope of the short-run aggregate supply curve and its relationship to the long-run aggregate supply curve.
7. Identify the factors that shift the long-run and short-run aggregate supply curves.
8. Explain how the economy achieves short-run equilibrium. ...
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