ZOOM LECTURE: AGGREGATE DEMAND & AGGREGATE SUPPLY
PART I
Part II
Just a few of comments before you watch the second lecture video:
You will find that I covered most of this in class on Tuesday. However, there is more information and details in the video having to do with the causes for shifts in AD and AS.
Pay close attention towards the end of the video where I discuss the three states of an economy. I talked about one of them (long-run equilibrium) on Tuesday. In fact, I ended the class speaking about it.
Lastly, make sure to review the last section of the chapter, section 11.6: Keynes' Law and Say's Law in the AD/AS model in order to understand how each of these philosophies are reflected in the model.
https://zoom.us/rec/share/_eBqHvLbtXJOZ43y-muDXbQrQN_FX6a8h3Ib__FYxU-fUAFTkKSUj_PkwSQcXgZu