Activity 01
Graphing Lab: Shifting AS Curves
Provide graph templates showing price level and real GDP. In pairs, students plot initial SRAS and LRAS, then shift curves based on scenarios like wage increases or tech advances. They label new equilibrium points and explain output-price changes in one sentence.
Explain the factors that determine an economy's aggregate supply.
Facilitation TipDuring the Graphing Lab, circulate to ensure students label axes correctly and use consistent scales when drawing shifts, as misaligned scales can distort the visual representation of changes.
What to look forPresent students with a scenario: 'The price of natural gas, a key input for many Canadian manufacturers, has increased significantly.' Ask them to draw the short-run aggregate supply curve and label the direction of the shift. Then, ask them to explain in one sentence why the curve shifted.