- Join Zoom Meeting on Veracross (it will only be linked on class website now).
- Attendance: Go to this Google Form https://forms.gle/sJ1YmENtcXHi9hou7 Click your class and submit. Your submission's "Time Stamp" will be checked for your attendance.
- First we will review the AD stuff from the previous class.
- Then we will start on aggregate supply.... focusing first on short run aggregate supply.
The meaning of aggregate supply - we will watch the video above and you will be given a handout to complete
- Describe the term aggregate supply.
- Explain, using a diagram, why the short-run aggregate supply curve (SRAS curve) is upward sloping.
- Explain, using a diagram, how the AS curve in the short run (SRAS) can shift due to factors including changes in resource prices, changes in business taxes and subsidies and supply shocks.