1. AP ECONOMICS: October 20 --Notebook Check (peer review then turn in)
Warm-up: “Do what you’ve always done and get what you’ve always got”. Bearing that in mind, assess what you did well in during this course over the 1st 9 weeks and what did not go so well. Then, think about and record one thing you can do to improve your performance during the 2nd 9 weeks.
A.P. Economics Learning Target #1 In order to understand how equilibrium national output and price level are determined, I will analyze how the economy responds to short-run shocks and adjusts to long-run equilibrium in the absence of any public policy through wage changes. I will know I have it when, on an LRAS-AD-AS graph, I can draw the economy self-correcting from three different situations.
Note: self-correction ONLY occurs by AS shifting!!! --self-correction situations: recession due to negative D shock; overheating due to positive D shock; recession due to stagflation
Assignment:
--read Module 23; watch videos at Mr. Clifford’s web site (AC-DC Economics)