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Unformatted text preview: Aggregate Supply Curve • Total supply of goods and services produced in the economy • Willingness to produce GDP • Aggregate supply curve (AS) slopes upward Macroeconomic Equilibrium Aggregate Demand and Supply (Annual) • AD Shifts to the Right -- Quantity Output Increased • AD Curve Shifts to the Right -- Inflationary Growth • AS Curve Shifts to the Right -- Deflationary Growth • AD Curve Shifts to the Left -- Recession • AS Curve Shifts to the Left -- Stagflation...
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This note was uploaded on 02/21/2008 for the course ECON 4.3 taught by Professor Fox during the Spring '99 term at Penn State.
- Spring '99