PPT-The Aggregate Expenditures Model

11 McGrawHillIrwin Copyright 2012 by The McGrawHill Companies Inc All rights reserved Assumptions and Simplifications Use the Keynesian aggregate expenditures model Prices are fixed. 29. McGraw-Hill/Irwin. Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.. Aggregate Demand. Real GDP desired at each price level. Inverse relationship. Real balances effect. Markets and . National Output. Chapter 12. Discussion Topics. Circular flow of payments. Composition and measurement of gross domestic product. Consumption, saving and investment. Equilibrium national income and output. : . Moving Toward Transparency and Accountability in West Virginia. Joint. . Commission on Economic Development, WV Legislature. September 11, 2012. TED BOETTNER, Executive Director. SEAN O’LEARY, Policy Analyst. 12. McGraw-Hill/Irwin. Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.. Aggregate Demand. Real GDP desired at each price level. Inverse relationship. Real balances effect. Chapter 11. Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.. Chapter 11: Learning Objectives. Aggregate Demand. Aggregate Demand slopes downward like other demand curves, but for different reasons.. Aggregate Demand. An increase in the aggregate price level will cause real spending to decrease. This is seen as a movement upward along a given AD curve. Federal Budget. Definition. – The annual plan outlining proposed revenues and expenditures for the coming year. This is a general guideline and the actual money that is spent can change based on events that happen in the upcoming year. Today:. Aggregate demand. Why is it downward sloping?. Factors that affect the aggregate demand. Aggregate supply. Long-run aggregate supply. Short-run aggregate supply. Why is it upward sloping?. Factors that affect the short-run aggregate supply. Chapter 11: Learning Objectives. You should be able to:. Explain what aggregate planning is and how it is useful. Identify the variables decision makers have to work with in aggregate planning and some of the possible strategies they can use. Chapter 13. © Dünhaupt, Dullien, Goodwin, Harris, Nelson, Roach, . Torras. Learning goals. After . today‘s. . lecture. , . you. . will . be. . able. . to. :. Explain . the derivation of the Aggregate Demand curve relating inflation and output levels, and how it shifts.. YEAR ENDED 2017 FEDERAL AWARD NAME Guidance for Grants with no CFAE Prepared FACCR Reporting in the Schedule of Expenditures of Federal Awards The auditee must prepare a schedule of expenditures of Fe Short-run Aggregate Supply (SRAS). SRAS. shows the relationship between the economy’s aggregate price level and the total quantity of final goods and services (aggregate output or RGDP) producers are willing to supply.. SOURCE: . Kaiser Family Foundation calculations using NHE data from Centers for Medicare and Medicaid Services, Office of the Actuary, National Health Statistics Group, at . http://www.cms.hhs.gov/NationalHealthExpendData/. AD - The Model. PL. RGDP. AD. PL = Price Level. ALL prices in the economy. Real Gross Domestic Product = Dollar value of ALL domestically produced final goods and services adjusted for inflation. AD = Aggregate demand. The total amount of goods and services people will purchase at ALL price levels. Has the same components as GDP..