Macroeconomics Study Guides
Keep the following two comprehensive study guides handy throughout your macroeconomics course study. They provide brief oulines for many of the major macroeconomics topics studied in this course and can help prepare you for your final economics exams.
AP Macroeconomics Study Guide
VII. AD/AS Graph
Aggregate Demand Shifters |
These cause shifts in aggregate demand: |
Aggregate Supply Shifters |
These cause shifts in aggregate supply:
|
AS Curve ranges |
Horizontal range - includes only real levels of output which are substantially less than full-employment output. A change in real output in this range won't affect price level at all. Vertical range - economy has already reached its full-capacity real output. Any increase in the price level at this range won't affect real output at all. Intermediate range - an expansion of real output is accompanied by a rising price level. The full-employment output is found in this range. |