kaylak:
For the questions below, write an explanation of the short-run effect (including the determinant of AD or AS that is causing the shift, the line that shifts [AD or AS], the direction of the shift , and the impact on output and price level [increase or decrease]) and submit a properly drawn and labeled aggregate demand and aggregate supply graph for the scenario.
kaylak:
The election of a new Congress causes consumer confidence to soar as expectations of future economic growth are solid.
kaylak:
@Vocaloid
kaylak:
hurry
kaylak:
@dude
dude:
What did they teach you was AD and AS?
kaylak:
Aggregate demand and supply
sillybilly123:
think about what might increase supply or demand. assuming there is some underlying specific chart that goes with this ?!
kaylak:
Nope you have to make a graph and answer this first so you know what the graph should look like
sillybilly123:
OK, seems that consumer demand will increase => demand-pull. Prices will increase unless supply meets demand. |dw:1507591740094:dw|
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