1. AP ECONOMICS: February 25
Warm-up Complete and begin discussing Worksheet 19.1 (HO from earlier)
A.P. Economics Learning Target In order to understand how equilibrium national output and price level are determined, I will analyze how AD and AS interact in ways that impact full employment output. I will know I have it when I can show, on appropriately labeled LRAS-AD-AS graphs, the economy at equilibrium while: (1) at full employment output; (2) experiencing a recessionary gap; and (3) experiencing an inflationary gap. 3 possible economic situations (this is really, really important)
-full employment
-recessionary gap
-inflationary gap
Closure Practice the mechanics of drawing and closing the gaps
Assignment GC Assignment #16 (Modules 21 & 30)