February 13, 2008

School’s rained-out; we’ll play two tomorrow.

Posted in Aggregate Supply at 8:34 am by davidprudente

Hey everyone! How wonderful is it to get an extra day off. In order to stay on top of your work, I recommend you read (at least) up to page 720 in chapter 31. This section of the chapter covers the Aggregate Supply curve and is very important. Feel free to finish up the chapter as well.

I would like you to focus on a couple of things in this section.

  1. Why is the Aggregate Supply curve vertical in the long-run? What is meant by the Natural Rate of Output? What is implied by the idea of full-employment output?
  2. What factors will cause the Long-run Aggregate Supply Curve (LRAS) to shift?
  3. Why Does the Short-run Aggregate Supply Curve (SRAS) slope upward?
  4. Why might the SRAS shift?
  5. How does the SRAS differ from the LRAS?

Use these questions as a guide for your reading and be sure you can answer them as we start talking about Aggregate Supply tomorrow. Enjoy your day off.

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6 Comments »

  1. Jordan Tryhubenko said,

    are we going to go over all the graphs from the reading in class tomorrow? I don’t really understand what some of them are explaining

  2. davidprudente said,

    Yes Jordan. We’ll be covering this graphs in great depth. Hang in there. If you have a Barron’s study guide, you might want to review the explanation they provide.

  3. the yankees will sweep the doubleheader

  4. davidprudente said,

    Really? I don’t think the Yankees are that deep this year.

  5. Sean Bowmaster said,

    No doubt about it. The Rocket was juiced.

  6. Vince DiPino said,

    Stienberg… glad to see ur alive. If there is a quiz, its next week right?


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