PDF-908 JOURNAL OF POLITICAL ECONOMY affects the price level or aggregate

UNEMPLOYMENT 909 the relatively lucky firms do not increase employment more than they would if their workers had perfect information while the unlucky firms decrease employment more than they would if. Week . 20. Shane Murphy. s.murphy5@lancaster.ac.uk. Office Hours: Monday 3:00-4:00 – LUMS C85. Outline. Roll Call. Problems. Chapter . 33: . Problem . 3. The economy is in a recession with high unemployment and low output.. 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. Dr. John Barry. Centre for Progressive Economics, Belfast. Political Economy. Crisis and opportunity . The race to the bottom….. ‘Economic recovery’. Recovery to what? . A return to FDI, . globalised. Aggregate expenditure line. Real GDP demanded. Changes in aggregate expenditure. Simple spending multiplier. Changes in the price level. Aggregate demand curve. Components of aggregate expenditure (AE). Dr. John Barry. Centre for Progressive Economics, Belfast. Political Economy. Crisis and opportunity . The race to the bottom….. ‘Economic recovery’. Recovery to what? . A return to FDI, . globalised. Unit 3. National Income and Price Determination. 1. The aggregate demand curve is downward sloping because of:. The real-balances effect. The interest rate effect. The substitute effect. The crowding out effect. Operations Management. Dr. Ron . Lembke. Learning Objectives. Describe planning. Distinguish the types of plans. Define aggregate scheduling. Relate aggregate scheduling to the overall planning process. 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. Aggregate Supply. Learning Objectives. Define the aggregate demand curve. Explain why it slopes downward. Explain why it shifts. Define the aggregate supply curve. Explain why it slopes downward. Explain why it shifts. Day 1. Q1: During the Great Depression we saw a rise in unemployment and deflation. In the recession of 1979-1982 a rise in unemployment but inflation. Why?. Q2: What is stagflation?. Aggregate Supply and Aggregate Demand. Chapter 13. Section 1. National Income Accounting. National Income Accounting. National Income Accounting. : the measurement of the national economy’s performance. Five major statistics measure the national economy: . orviewingletterClosingpostedunderhomepageDepartmentRecreationsensitiveallschedulesdecisionAre the fields open Sign up to receive Athletic Field Closing Notices wwwbernardsorgselectFieldlistnoticesgene Introduction & Determinants. Aggregate Demand Curve . (Inverse) Relationship between price level & quantity of aggregate output demanded for the economy as a whole. Aggregate Price Level (measured with GDP deflator). The Influence of Monetary and Fiscal Policy on Aggregate Demand. Monetary policy refers to the control of a country’s quantity of money by its central bank. We saw the . long-run effects. of monetary policy in Chapter 12 (Money Growth and Inflation).