econ101fall11lecture9

econ101fall11lecture9 - Aggregate Supply Shocks AS Ys S P...

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Aggregate Supply Shocks Aggregate Supply Shocks —Changes in variables that determine the Position of AS N Determines Determines the Slope of Position of : ( , , , , ) s oo o o AS AS AS Y S P W Z TE K < ±²²³ ² ²´
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Types of Aggregate Supply Shocks Adverse Aggregate Supply Shocks : Changes in Variables that shift AS to the left . Examples: Favorable Aggregate Supply Shocks : Changes in Variables that shift AS to the right . Examples: ,, , o r oo o o WZT E K nnp p , o r o o E K ppn n
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Adverse AS Shock: An Example-- o Z n
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Adverse AS Shock: An Example— Effects on Market Equilibrium o Z n
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Productivity Growth
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Favorable AS Shock: An Example-- o TE n
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Favorable AS Shock: An Example— Effects on Market Equilibrium
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econ101fall11lecture9 - Aggregate Supply Shocks AS Ys S P...

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