AP Economics – 4/08/19

I. Bellwork

• Page 178-179 Tackle the Test 1-5 & p. 171 #2

II.  Objectives:

• Use the aggregate supply curve to illustrate the relationship between the aggregate price level and the quantity of aggregate output supplied in the economy
• Identify the factors can shift the aggregate supply curve
• Explain why the aggregate supply curve is different in the short run from in the long run

III.  Discuss: Video Assignment Updated on i Learn

IV.  Aggregate Demand:  Introduction & Determinants pages 180-191

A,  Aggregate Supply – Clifford

B.  Short-run Aggregate Supply

• Wages and Resource Prices WILL NOT increase as price levels increase.

C,  Noteboook:  Factors that shift Short-Run Aggregate Supply and Graphs (Page 185)

D,  Long-run Aggregate Supply

• Wages and Resource Prices WILL increase as price levels increase.

V.  Classwork on iLearn

• 3.2 Aggregate supply Practice – Due today
• 18.1 & 18.3 Due on Friday

AP Economics, Class News