AP Economics – 4/11/19
I. Bellwork
- Page 191 FRQ #2
II. Objectives
- Explain the difference between short-run and long-run macroeconomic equilibrium
- Describe the causes and effects of demand shocks and supply shocks
- Determine if an economy is experiencing a recessionary or an inflationary gap and explain how to calculate the size of an output gap
III. Discuss Video Assignment on iLearn
IV. Equilibrium in the Aggregate Demand/Supply Model pgs 192-199
V. Notebook
A. Bridge Map P194
- Impact of Negative Demand Shocks
- Impact of Positive Demand Shocks
B. Bridge Map P195
- Impact of Negative Supply Shocks
- Impact of Positive Supply Shocks
C. Discuss stagflation
D. Copy and Label Figure 19.4 p 196
- Impact of Recessionary Gap
- Impact of Inflationary Gap
Macro 3.3- Long Run Aggregate Supply, Recession, and Inflation (LRAS)
VI. Classwork
19.1 WS on iLearn
Module 18 Questions on iLearn
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