Macroeconomic Equilibrium (AD-AS Model)
Using the AD-AS model to analyze macroeconomic equilibrium, recessions, and inflationary gaps.
Key Questions
- Construct an AD-AS model to illustrate macroeconomic equilibrium.
- Analyze the effects of demand and supply shocks on the economy.
- Predict how the economy adjusts to long-run equilibrium after a short-run disturbance.
Ontario Curriculum Expectations
Suggested Methodologies
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