06-04_task2.docx - Name \u2002 Lexi\u2002Pritchett\u2002 \u2002 \u2002 \u2002 Date \u2002 \u2002 \u2002 \u2002 \u2002 School \u2002 Thomasville\u2002High\u2002 \u2002 \u2002 \u2002 Facilitator \u2002

06-04_task2.docx - Name   Lexi Pritchett       ...

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Name: Lexi Pritchett Date: 12/2/19 School: Thomasville High Facilitator: Coach Elliott 6.04 AS-AD Model Total Points: 48 This assignment examines the short run changes in Aggregate Demand and Aggregate Supply. Complete the chart below by answering the following questions. Highlight the hints for each column before completing the chart. Which curve shifts? AD or AS? o Answer “AD” if spending changed by any of the components of AD, namely by C, I, G, or Xn. o Answer “AS” if producers/suppliers have been affected by government programs such as taxes or subsidies, technology, costs of inputs, or productivity. Which direction? Left or Right? o Answer “shifts right” if more spending or production has occurred. o Answer “shifts left” if less spending or production has occurred. o Memory aid: More right, Left less. PL and GDP Output Changes? Increase or Decrease? o Step 1. Draw a graph for each scenario in your notebook. o Step 2: Circle your equilibrium intersection. © ACCESS Virtual Learning 2018
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