Principles of Macroeconomics

Aggregate Demand and Aggregate Supply [WLO: 3] [CLOs: 1, 2]

Prior to beginning work on this discussion, read Chapter 6 in the course text and respond to the following components:

  • Discuss the reasons why the aggregate demand (AD) curve slopes downward.
  • What causes the AD curve and aggregate supply (AS) curve to shift, respectively?
  • How would a change in AD and AS affect the economy, respectively?
  • Why do Keynesian economists emphasize AD whereas classical economists emphasize AS?
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