Aggregate Demand and Aggregate Supply 13

Aggregate Demand and Aggregate Supply 13 - 13 Problems and...

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Unformatted text preview: 13 . Problems and Applicafions Q4 In 1939, with the U.S. economyr not yet fullyr recovered from the Great Deprasion, President Roosevelt proclaimetRhat Thanksgiving would fall a week earlier than usual so that the shopping period before Christmas would be longer. The Following graph repraents the state of the economyr before this pronouncement. Using the mode! of aggregate demand andI aggregate supphl, iikJstrate what President Rmseveit might have been trying to achieve. Using the mode! of aggregate demand andI aggregate wpphl, iikJstrate what President Rmseveit might have been trying to achieve. film Correct” LRAS —O— J Aggregale pply Aggregate Demand _|:|_ 4' Aggregate Supply ---------+ Price Level QIanlity oi Oulput +\+ 1 2 QIanity of Cllhul ...
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  • Spring '09
  • NERVO
  • Supply And Demand, ECON-2301, President Rmseveit, pply Aggregate Demand

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