1. AP ECONOMICS: February 22
Warm-up: List the AD and AS shifters by memory
A.P. Economics Learning Target: In order to understand how equilibrium national output and price level are determined, I will analyze: (1) the nature of the aggregate supply (AS) curve; and (2) how aggregate demand (AD) and aggregate supply (AS) interact in the short run. I will know I have it when I can: (1) explain the different views about the shape of the AS curve; and (2) show on an appropriately labeled AD-AS graph how economic fluctuations impact equilibrium income and price level. --“3 segment” SRAS analysis
--4 basic AD-AS graphs -positive D shock; negative D shock; positive S shock; negative S shock (creates stagflation) -begin Worksheet 19.1 (HO)
Assignment:
--read Module 20
--watch videos at Mr. Clifford’s web site (AC-DC Economics)