Chapter_05　Aggregate Supply and Demand多恩布什宏观经济学（教学课件）PPT.pptVIP

Introduction The last few chapters have detailed models of long run economic growth ? now turn to short run fluctuations in the economy that constitute the business cycle The AS/AD model is the basic macroeconomic tool for studying output fluctuations and the determination of the price level and the inflation rate Can be used to explain how the economy deviates from a path of smooth growth over time, and to explore the consequences of government policies intended to reduce unemployment and output fluctuations, and maintain stable prices AS and AD Aggregate supply curve describes, for each giv