22 The AD - AS Model, Part 2-1

22 The AD - AS Model, Part 2-1 - Agenda Aggregate Demand...

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1 22-1 The IS – LM / AD – AS Model: A General Framework for Macroeconomic Analysis, Part 2 22-2 Agenda •Agg r eg a t e D em and and Agg r eg a t e S upp ly 22-3 Aggregate Demand and Aggregate Supply •Th e AD-AS model is derived from the IS-LM model. ¾ The two models are equivalent. ¾ Depending on the particular issue, one model may prove more useful than the other model. •The IS-LM model relates the real interest rate to output. •The AD-AS model relates the price level to output. 22-4 The
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2 22-5 Derivation of the AD Curve r Y Y P 22-6 The AD Curve Y P 22-7 The AD Curve •Th e agg r eg a t e
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This note was uploaded on 07/29/2010 for the course UGBA 100b taught by Professor Wood during the Summer '10 term at University of California, Berkeley.

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22 The AD - AS Model, Part 2-1 - Agenda Aggregate Demand...

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