31Chp22-Econ3310

31Chp22-Econ3310 - Aggregate Supply Unemployment Inflation...

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Unformatted text preview: Aggregate Supply Unemployment Inflation Higher unemployment, higher inflation Oil shocks, SRAS curve to the left, stagflation 72 73 74 75 76 77 78 79 80 n- n- n- n- n- n- n- n- nJa Ja Ja Ja Ja Ja Ja Ja Ja 10.0 9.0 8.0 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0 Output and prices in the US: 1973-1980 Aggregate Demand Equilibrium Analysis ...
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