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LECTURE NOTES ON MACROECONOMIC PRINCIPLES
irelandp.comCh 33 Aggregate Demand and Aggregate Supply Introduction Typically, increases in the labor force, increases in the
Aggregate Demand and Aggregate Supply - Economics
www.econ2.jhu.eduA micro example, demand curves working, for an individual market. •Microeconomic theory teaches us: When the price of an individual good falls, demand rises (the law of demand). •If the price of solar power falls, and the price of oil and coal stay the same, the demand for solar power will rise. •We substitute solar power for coal power ...
Aggregate Demand and Aggregate Supply Effects of …
www.federalreserve.govDistinguishing supply shocks from demand shocks has long been a goal of empirical macroeconomics (e.g., Shapiro and Watson, 1988, Blanchard and Quah, 1989, or Gali, 1992), in part because the appropriate monetary and scal policy responses may be