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1) Draw a generic Aggregate Supply and Aggregate Demand curve on a set of axes. Label...

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Economics

1) Draw a generic Aggregate Supply and Aggregate Demand curve ona set of axes. Label vertical and horizontal axis appropriately andindicate where the macroeconomic equilibrium is.

2) Then, find a current events article that discusses somemacroeconomic even that will affect either AS or AD. Represent thiseffect using a rightward or leftward shift as appropriate.

3) Use your model to interpret the effect of the event from yourarticle or scenario on the price level, output, input, andunemployment for the relevant economy.

Answer & Explanation Solved by verified expert
4.2 Ratings (762 Votes)
1 Aggregate demand curve is downward slopingshowing a negative relationship between price and quantity demandedwhile aggregate supply curve is upward sloping showing    See Answer
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