Module Aggregate Supply: Introduction and Determinants KRUGMAN'S MACROECONOMICS for AP* 18 Margaret Ray and David Anderson.

Slides:

Advertisements

Similar presentations

Module Supply and Demand: Introduction and Demand

Advertisements

Module Equilibrium in the Aggregate Demand- Aggregate Supply Model

Putting it all together…

Chapter 12. Aggregate Demand and Aggregate Supply Link to syllabus Skip “Why the AD Curve is Downward Sloping;’ pp and Figures 12-2, 12-3.

1 Aggregate Supply: Short – Run & Long – Run. 2 Short-run Aggregate Supply Aggregate Supply (AS) shows the quantity of real GDP produced at different.

Chapter 22 Aggregate Demand and Supply Analysis. Copyright © 2007 Pearson Addison-Wesley. All rights reserved Aggregate Demand The relationship.

Copyright © 2006 Pearson Addison-Wesley. All rights reserved. Chapter 7 Aggregate Demand, Aggregate Supply, and the Self-Correcting Economy.

Copyright © 2010 Pearson Education. All rights reserved. Chapter 22 Aggregate Demand and Supply Analysis.

Module Aggregate Supply: Introduction and Determinants KRUGMAN'S MACROECONOMICS for AP* 18 Margaret Ray and David Anderson.

Mr. Mayer AP Macroeconomics Aggregate Supply. The level of Real GDP (GDP R ) that firms will produce at each Price Level (PL)

Module Supply and Demand: Changes in Equilibrium

Aggregate Supply: Introduction & Determinants. Objectives: What is the aggregate supply curve and what is the relationship between the aggregate price.

The Phillips Curves Module 34. Figure 34.1 Unemployment and Inflation, 1955–1968 Ray and Anderson: Krugman’s Macroeconomics for AP, First Edition Copyright.

Module The Production Possibilities Curve Model

Aggregate Supply – Short Run AP Macroeconomics. Where we came from… Aggregate demand represents the sum of consumption (C), investment spending (I), government.

AP Macroeconomics Aggregate Supply. The level of Real GDP (GDP R ) that firms will produce at each Price Level (PL) The relationship between the average.

Aggregate Supply: Introduction and Determinants

Aggregate Supply: Introduction and Determinants

ECO Global Macroeconomics TAGGERT J. BROOKS.

Aggregate Supply Short-Run Aggregate Supply and Long-Run Aggregate Supply.

Module 35 May  According to the classical model of the price level, the aggregate supply curve is vertical even in the short run.  Business cycle.

Module Putting it All Together

Aggregate Supply Module 18.

Long Run Economic Growth

Module Supply and Demand: Supply and Equilibrium

Module The Meaning and Calculation of Unemployment KRUGMAN'S MACROECONOMICS for AP* 12 Margaret Ray and David Anderson.

© 2007 Worth Publishers Essentials of Economics Krugman Wells Olney Prepared by: Fernando & Yvonn Quijano.

Module Equilibrium in the Aggregate Demand- Aggregate Supply Model

Module 29 The Market for Loanable Funds KRUGMAN'S

CHAPTER 27 Aggregate Supply and Aggregate Demand PowerPoint® Slides by Can Erbil © 2005 Worth Publishers, all rights reserved.

Macroeconomic Equilibrium The AD-AS Model. Aggregate Demand Just as we can determine a demand curve for a particular good or service, we can also determine.

Aggregate Supply Chapter 11-3 Aggregate Supply. Aggregate Supply The aggregate supply curve shows the relationship between the aggregate price level and.

Module Equilibrium in the Aggregate Demand- Aggregate Supply Model KRUGMAN'S MACROECONOMICS for AP* 19 Margaret Ray and David Anderson.

Module The Circular Flow and Gross Domestic Product KRUGMAN'S MACROECONOMICS for AP* 10 Margaret Ray and David Anderson.

Module Economic Growth in Macroeconomic Models KRUGMAN'S MACROECONOMICS for AP* 40 Margaret Ray and David Anderson.

ECO Global Macroeconomics TAGGERT J. BROOKS.

Module The Foreign Exchange Market KRUGMAN'S MACROECONOMICS for AP* 42 Margaret Ray and David Anderson.

KRUGMAN'S MICROECONOMICS for AP* Introduction to Perfect Competition Margaret Ray and David Anderson Micro: Econ: Module.

Aggregate Supply in the Short and Long Run Short-run Aggregate Supply (SRAS) SRAS shows the relationship between the economy’s aggregate price level.

1 of 62 Module: 18 >> Krugman/Wells ©2009  Worth Publishers Aggregate Supply.

Module Inflation and Unemployment: The Phillips Curve

KRUGMAN'S MICROECONOMICS for AP* Introduction to Monopoly Margaret Ray and David Anderson Micro: Econ: Module.

Module Monetary Policy and the Interest Rate

ECO Global Macroeconomics TAGGERT J. BROOKS.

SHORT-RUN/LONG-RUN GRAPHING Summary. Why Aggregate Demand Slopes downward?  Think about AD from the perspective of the people buying  price level =

Aggregate Supply The quantity of output that firms are willing and able to produce for the economy In the long run, the level of output depends on the.

Module Economic Growth in Macroeconomic Models KRUGMAN'S MACROECONOMICS for AP* 40 Margaret Ray and David Anderson.

Lesson 7-2 Aggregate Supply. Aggregate Supply: the Long Run and The Short Run Basic Definitions The short run in macroeconomic analysis is a period in.

Module Supply and Demand: Quantity Controls KRUGMAN'S MACROECONOMICS for AP* 9 Margaret Ray and David Anderson.

Module Money, Output, and Prices in the Long Run

Module Introduction to Macroeconomics KRUGMAN'S MACROECONOMICS for AP* 2 Margaret Ray and David Anderson.

Module Productivity and Growth KRUGMAN'S MACROECONOMICS for AP* 38 Margaret Ray and David Anderson.

Module Money, Output, and Prices in the Long Run KRUGMAN'S MACROECONOMICS for AP* 32 Margaret Ray and David Anderson.

Relationship between GDP and Unemployment… Now lets add PL changes… This is the Aggregate Model.

Student Parking Fees UT Parking Sticker range $127-$765 Texas State $115-$825 Texas A&M $275 and up ACC $15 per semester Tarleton State $120 Baylor $300.

Module Aggregate Supply: Introduction and Determinants KRUGMAN'S MACROECONOMICS for AP* 18 Margaret Ray and David Anderson.

Charis, will you go to prom with me?. Module Aggregate Demand: Introduction and Determinants KRUGMAN'S MACROECONOMICS for AP* 17 Margaret Ray and David.

Introduction to Aggregate Supply Module 18. Key skills and content Define AS (aggregate supply) Explain why the AS curve is upward sloping Identify the.

Aggregate Supply Short-Run Aggregate Supply and Long-Run Aggregate Supply.

Long Run Costs Module KRUGMAN'S MICROECONOMICS for AP* Micro:

Module Types of Inflation, Disinflation, and Deflation KRUGMAN'S MACROECONOMICS for AP* 33 Margaret Ray and David Anderson.

Module Aggregate Supply: Introduction and Determinants KRUGMAN'S MACROECONOMICS for AP* 18 Margaret Ray and David Anderson.

Krugman/Wells Macroeconomics in Modules and Economics in Modules Third Edition MODULE 28 (64) Aggregate Supply.

Module Economic Growth in Macroeconomic Models

Please read the following License Agreement before proceeding.

Module Economic Growth in Macroeconomic Models

Module Economic Growth in Macroeconomic Models

Section 4 Module 18.

Economic Growth in Macroeconomic Models

Module Economic Growth in Macroeconomic Models

Presentation transcript:

Module Aggregate Supply: Introduction and Determinants KRUGMAN'S MACROECONOMICS for AP* 18 Margaret Ray and David Anderson

What you will learn in this Module : How the aggregate supply curve illustrates the relationship between the aggregate price level and the quantity of aggregate output supplied in the economy What factors can shift the aggregate supply curve Why the aggregate supply curve is different in the short run from in the long run

The relationship between the price level and the real GDP supplied Aggregate Supply In the short run, there is a positive slope to the SRAS curve.In the short run, there is a positive slope to the SRAS curve. In the long run, the LRAS curve is vertical at the level of potential GDP.In the long run, the LRAS curve is vertical at the level of potential GDP.

The Short-Run Aggregate Supply Curve Profit per unit of output Nominal Wage Sticky Wages SRAS

Shifts of the Short-Run Aggregate Supply Curve ∆ Commodity Prices ∆ Nominal Wages ∆ Productivity

The Long-Run Aggregate Supply Curve Flexible Wages Long Run LRAS Potential Output Factors that shift LRAS

From the Short Run to the Long Run Long Run – all inputs become variable

Table 18.1 Factors that Shift the Short-Run Aggregate Supply Curve Ray and Anderson: Krugman’s Macroeconomics for AP, First Edition Copyright © 2011 by Worth Publishers

Figure 18.2 Shifts of the Short-Run Aggregate Supply Curve Ray and Anderson: Krugman’s Macroeconomics for AP, First Edition Copyright © 2011 by Worth Publishers

Figure 18.5 From the Short Run to the Long Run Ray and Anderson: Krugman’s Macroeconomics for AP, First Edition Copyright © 2011 by Worth Publishers

Figure 18.1 The Short-Run Aggregate Supply Curve Ray and Anderson: Krugman’s Macroeconomics for AP, First Edition Copyright © 2011 by Worth Publishers

Figure 18.3 The Long-Run Aggregate Supply Curve Ray and Anderson: Krugman’s Macroeconomics for AP, First Edition Copyright © 2011 by Worth Publishers

Figure 18.4 Actual and Potential Output from 1989 to 2009 Ray and Anderson: Krugman’s Macroeconomics for AP, First Edition Copyright © 2011 by Worth Publishers

Unnumbered Figure 18.1 Prices and Output During the Great Depression Ray and Anderson: Krugman’s Macroeconomics for AP, First Edition Copyright © 2011 by Worth Publishers