aggregate demand and aggrate supply (总需求与总供给).pptx

Aggregate Demand and Aggregate Supply;How the aggregate demand curve illustrates the relationship between the aggregate price level and the quantity of aggregate output demanded in the economy How the aggregate supply curve illustrates the relationship between the aggregate price level and the quantity of aggregate output supplied in the economy Why the aggregate supply curve in the short run is different from the aggregate supply curve in the long run How the AS–AD model is used to analyze economic fluctuations How monetary policy and fiscal policy can stabilize the economy ;Aggregate Demand;7.9;It is downward-sloping for two reasons: The first is the wealth effect of a change in the aggregate price level—a higher aggregate price level reduces the purchasing power of households’ wealth and reduces consumer spending. The second is the interest rate effect of a change in aggregate the price level—a higher aggregate price level reduces the purchasing power of households’ money holdings, leading to a rise in interest rates and a fall in investment spending and consumer spending. ;;The Aggregate Demand Curve and the Income-Expenditure Model;Shifts of the Aggregate Demand Curve;AD;Factors that Shifts the Aggregate Demand Curve;Factors that Shifts the Aggregate Demand Curve;Factors that Shifts the Aggregate Demand Curve;The aggregate supply curve shows the relationship between the aggregate price level and the quantity of aggregate output in the economy. ;The Short-Run Aggregate Supply Curve;;;Shifts of the Short-Run Aggregate Supply Curve;Factors that Shift Short-Run Aggregate Supply;The long-run aggregate supply curve shows the relationship between the aggregate price level and the quantity of aggregate output supplied that would exist if all prices, including nominal wages, were fully flexible. ;;Actual and Potential Output;Y;The AS–AD Model;Short-Run Macroeconomic Equilibrium;Y;;;Long-Run Macroeconomic Equilibrium;Y;;Short-Run versus Long-Run Effects of a Negative D