1. PHILLIPS CURVE QUIZ IS FRIDAY
AP ECONOMICS: November 14
Loanable Funds Market Quiz (HO)
Learning Target #1
In order to gain an understanding of the inflation-unemployment tradeoff, I will learn about the Phillips Curve (PC). I will know I have it when I can: (1) draw an appropriately labeled Phillips Curve; and (2) relate changes in the short-run Phillips Curve (SRPC) to changes in aggregate demand in the and aggregate supply in the LRAS-AS-AD Model.
Phillips Curve Practice (using whiteboards) Draw a LRAS-AS-AD graph and Phillips graph for each of the following:
1. government spending increases (start from a recessionary gap) 2. price of crude oil increases (start from full employment) 3. the Fed sells bonds on the open market (start from inflationary gap) 4. consumer confidence rises (start from full employment then self-correct)
Learning Target #2 In order to understand the meaning of long-run economic growth, I will examine how growth occurs. I will know I have it when I can: (1) list the determinants causing economic growth; (2) explain how public policies can influence long-run growth; and (3) draw a LRAS-AS-AD graph showing long-run economic growth.
Mr. Clifford on “GROWTH!” (video guide—HO) Growth! Assignment
Read Module 41; GC video
PHILLIPS CURVE QUIZ IS FRIDAY