AP ECONOMICS: November 15

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Presentation transcript:

AP ECONOMICS: November 15 Warm-up Interest rates fall. On a LRAS-AD-AS graph show the impact on AD, AS, and LRAS. Briefly explain why each of the curve shifts occurred. When does the LRPC shift? Explain. A.P. Economics Learning Target: In order to understand how an open economy interacts with the rest of the world, I will understand how a country’s transactions with the rest of the world are recorded in balance of payments accounts. I will know I have it when I can determine: (1) when a country’s balance of trade yields a surplus or deficit; (2) what is recorded in a country’s current account; and (3) what is recorded in a country’s financial account. Balance of Payments (HO)—FOLLOW THE MONEY! -basic concepts: inflows and outflows -current account contents -financial account contents -Worksheet 41.1 (TURN IN) Assignment Unit 5 GC videos PHILLIPS GRAPH QUIZ IS TOMORROW FRQS #8 and #9: Wed., 11-28; MCT #5: Thur., 11-29