{"id":6714,"date":"2017-11-20T15:44:34","date_gmt":"2017-11-20T15:44:34","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-macroeconomics\/?post_type=chapter&#038;p=6714"},"modified":"2018-03-23T20:42:54","modified_gmt":"2018-03-23T20:42:54","slug":"shifts-in-aggregate-supply-and-demand","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/chapter\/shifts-in-aggregate-supply-and-demand\/","title":{"raw":"Introduction to Shifts in Aggregate Supply and Demand","rendered":"Introduction to Shifts in Aggregate Supply and Demand"},"content":{"raw":"<h2>What you'll learn to do: examine factors that shift aggregate supply and aggregate demand<\/h2>\r\n<a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2017\/11\/06192744\/pexels-photo-170461.jpg\"><img class=\"aligncenter wp-image-7279\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2017\/11\/06192744\/pexels-photo-170461-300x200.jpg\" alt=\"stone wall\" width=\"575\" height=\"383\" \/><\/a>\r\n\r\nIn this section, you'll learn about the macroeconomic factors that cause shifts in the aggregate supply and aggregate demand model. The readings introduce what causes shifts in the AD curve, particularly changes in the behavior of consumers or firms and changes in government tax or spending policy. We'll also\u00a0discuss two of the most important factors that can lead to shifts in the AS curve: productivity growth and changes in\u00a0input prices.","rendered":"<h2>What you&#8217;ll learn to do: examine factors that shift aggregate supply and aggregate demand<\/h2>\n<p><a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2017\/11\/06192744\/pexels-photo-170461.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7279\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2017\/11\/06192744\/pexels-photo-170461-300x200.jpg\" alt=\"stone wall\" width=\"575\" height=\"383\" \/><\/a><\/p>\n<p>In this section, you&#8217;ll learn about the macroeconomic factors that cause shifts in the aggregate supply and aggregate demand model. The readings introduce what causes shifts in the AD curve, particularly changes in the behavior of consumers or firms and changes in government tax or spending policy. We&#8217;ll also\u00a0discuss two of the most important factors that can lead to shifts in the AS curve: productivity growth and changes in\u00a0input prices.<\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-6714\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Modification, adaptation, and original content. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li>Shifts in Aggregate Supply and Shifts in Aggregate Demand. <strong>Authored by<\/strong>: OpenStax College. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em>. <strong>License Terms<\/strong>: Download for free at http:\/\/cnx.org\/contents\/4061c832-098e-4b3c-a1d9-7eb593a2cb31@11.11<\/li><li><strong>Authored by<\/strong>:  Paula. <strong>Provided by<\/strong>: Pexels . <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/www.pexels.com\/photo\/close-up-pattern-rocks-stones-170461\/\">https:\/\/www.pexels.com\/photo\/close-up-pattern-rocks-stones-170461\/<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/about\/cc0\">CC0: No Rights Reserved<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":29,"menu_order":6,"template":"","meta":{"_candela_citation":"[{\"type\":\"cc\",\"description\":\"Shifts in Aggregate Supply and Shifts in Aggregate Demand\",\"author\":\"OpenStax College\",\"organization\":\"\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"Download for free at http:\/\/cnx.org\/contents\/4061c832-098e-4b3c-a1d9-7eb593a2cb31@11.11\"},{\"type\":\"original\",\"description\":\"Modification, adaptation, and original content\",\"author\":\"\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"cc\",\"description\":\"\",\"author\":\" Paula\",\"organization\":\"Pexels \",\"url\":\"https:\/\/www.pexels.com\/photo\/close-up-pattern-rocks-stones-170461\/\",\"project\":\"\",\"license\":\"cc0\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"f039cb6d-6d71-40a5-8767-71e4f37e3c4d","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-6714","chapter","type-chapter","status-publish","hentry"],"part":185,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/pressbooks\/v2\/chapters\/6714","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/wp\/v2\/users\/29"}],"version-history":[{"count":12,"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/pressbooks\/v2\/chapters\/6714\/revisions"}],"predecessor-version":[{"id":9838,"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/pressbooks\/v2\/chapters\/6714\/revisions\/9838"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/pressbooks\/v2\/parts\/185"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/pressbooks\/v2\/chapters\/6714\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/wp\/v2\/media?parent=6714"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/pressbooks\/v2\/chapter-type?post=6714"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/wp\/v2\/contributor?post=6714"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/wp\/v2\/license?post=6714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}