{"id":420,"date":"2015-05-05T03:28:48","date_gmt":"2015-05-05T03:28:48","guid":{"rendered":"https:\/\/courses.candelalearning.com\/masterymacro1xngcxmaster\/?post_type=chapter&#038;p=420"},"modified":"2015-07-17T01:56:33","modified_gmt":"2015-07-17T01:56:33","slug":"learning-outcome-the-aggregate-demandaggregate-supply-model","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/suny-macroeconomics\/chapter\/learning-outcome-the-aggregate-demandaggregate-supply-model\/","title":{"raw":"Outcome: The Aggregate Demand-Aggregate Supply Model","rendered":"Outcome: The Aggregate Demand-Aggregate Supply Model"},"content":{"raw":"<h2>What you'll learn to do:\u00a0use the AD-AS model to explain the equilibrium levels of real GDP and price level<\/h2>\r\nIn this learning outcome, you\u00a0will become an expert\u00a0at understanding, defining, and applying the concepts of aggregate demand and aggregate supply.\r\n\r\nThe specific things you\u2019ll learn in this section include:\r\n<ul>\r\n\t<li>Define aggregate demand (AD) and explain the factors that cause it to change<\/li>\r\n\t<li>Define aggregate supply (AS) and explain the factors that cause it to change<\/li>\r\n\t<li>Use the AD-AS model to explain periods of recession, and expansion, demand-pull inflation and cost-push inflation<\/li>\r\n\t<li>Use the AD-AS model to explain periods of economic growth<\/li>\r\n<\/ul>\r\n<h3>LEARNING ACTIVITIES<\/h3>\r\nThe learning activities for this section include:\r\n<ul>\r\n\t<li>Reading: The Aggregate Demand-Aggregate Supply Model<\/li>\r\n\t<li>Reading: Macroeconomic Perspectives on Demand and Supply<\/li>\r\n\t<li>Reading: Building a Model of Aggregate Supply and Aggregate Demand<\/li>\r\n\t<li>Reading: Aggregate Demand<\/li>\r\n\t<li>Reading: Shifts in Aggregate Supply<\/li>\r\n\t<li>Reading: The Long Run and the Short Run<\/li>\r\n\t<li>Reading: Shifts in Aggregate Demand<\/li>\r\n\t<li>Self Check: The Aggregate Demand-Aggregate Supply Model<\/li>\r\n\t<li>Reading: Growth and Recession in the AS\u2013AD Diagram<\/li>\r\n\t<li>Reading: The AS\u2013AD Model and Economic Growth<\/li>\r\n\t<li>Simulation: Spend or Save\u2014Government Edition<\/li>\r\n\t<li>Self Check:\u00a0The AD-AS Model and Growth, Recession, Expansion, and Inflation<\/li>\r\n<\/ul>\r\nTake time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.","rendered":"<h2>What you&#8217;ll learn to do:\u00a0use the AD-AS model to explain the equilibrium levels of real GDP and price level<\/h2>\n<p>In this learning outcome, you\u00a0will become an expert\u00a0at understanding, defining, and applying the concepts of aggregate demand and aggregate supply.<\/p>\n<p>The specific things you\u2019ll learn in this section include:<\/p>\n<ul>\n<li>Define aggregate demand (AD) and explain the factors that cause it to change<\/li>\n<li>Define aggregate supply (AS) and explain the factors that cause it to change<\/li>\n<li>Use the AD-AS model to explain periods of recession, and expansion, demand-pull inflation and cost-push inflation<\/li>\n<li>Use the AD-AS model to explain periods of economic growth<\/li>\n<\/ul>\n<h3>LEARNING ACTIVITIES<\/h3>\n<p>The learning activities for this section include:<\/p>\n<ul>\n<li>Reading: The Aggregate Demand-Aggregate Supply Model<\/li>\n<li>Reading: Macroeconomic Perspectives on Demand and Supply<\/li>\n<li>Reading: Building a Model of Aggregate Supply and Aggregate Demand<\/li>\n<li>Reading: Aggregate Demand<\/li>\n<li>Reading: Shifts in Aggregate Supply<\/li>\n<li>Reading: The Long Run and the Short Run<\/li>\n<li>Reading: Shifts in Aggregate Demand<\/li>\n<li>Self Check: The Aggregate Demand-Aggregate Supply Model<\/li>\n<li>Reading: Growth and Recession in the AS\u2013AD Diagram<\/li>\n<li>Reading: The AS\u2013AD Model and Economic Growth<\/li>\n<li>Simulation: Spend or Save\u2014Government Edition<\/li>\n<li>Self Check:\u00a0The AD-AS Model and Growth, Recession, Expansion, and Inflation<\/li>\n<\/ul>\n<p>Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.<\/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-420\">\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><strong>Authored by<\/strong>: Steven Greenlaw and 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>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":74,"menu_order":18,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"\",\"author\":\"Steven 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