1. AP ECONOMICS: October 11
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. See Module 18 (Aggregate Supply) Notes (HO from earlier) --”sticky” wages --three segment AS curve 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
Make sure you have read Mod. 19 and watched GC videos