Macroeconomic Equilibrium and Fluctuations
Analyzing the interaction of aggregate demand and aggregate supply to determine equilibrium output and price level.
Key Questions
- Explain how the interaction of AD and AS determines the equilibrium price level and real GDP.
- Analyze the effects of shifts in AD or AS on macroeconomic equilibrium.
- Predict the short-run and long-run consequences of a significant economic shock.
National Curriculum Attainment Targets
Suggested Methodologies
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