TO-Eco2013-Chap15 - ! Use AD/AS graphs to analyze output...

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Chapter 15 Objectives ! Define the aggregate demand curve and explain why it slopes downward ! Discuss the factors that cause the aggregate demand curve to shift ! Draw and show shifts of an aggregate demand curve ! Identify the causes of inflation inertia ! Explain the relationship between output gaps and inflation ! Define long-run and short-run aggregate supply lines ! Define short-run and long-run equilibrium ! Explain the adjustment of inflation to output gaps
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Unformatted text preview: ! Use AD/AS graphs to analyze output and inflation ! Discuss the self-correcting tendency of the economy ! Define aggregate supply shock, inflation shock, and the shock to potential output ! Discuss the sources of inflation ! Show the effects of excessive aggregate demand and supply shocks on the economy ! Define disinflation ! Explain the effects of monetary tightening in the short run and long run...
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This note was uploaded on 10/03/2011 for the course ECO 2013 taught by Professor Barbaramoore during the Summer '08 term at University of Central Florida.

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