Students will understand the nature of aggregate demand and aggregate supply.
Students will draw aggregate demand and aggregate supply curves and be able to show how the curves can shift causing a change in price level and output.
Why does the aggregate demand curve slope down and to the right?
Why does the aggregate supply curve slope up and to the right?
What can cause the AD curve to shift right or left?
What can cause the SRAS curve to shift right or left?
What is the difference between SRAS and LRAS?
Can I recognize the difference between an inflationary gap and a recessionary gap on the AD-AS graph?