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Historical circumstances explained by AD/AS

3 videos
In the last tutorial, we claimed that the aggregate demand and aggregate supply model (AD-AS) would be useful for analyzing macroeconomic events. Well, in this tutorial, we'll do exactly that.

Demand-pull inflation under Johnson

VIDEO 9:18 minutes
Thinking about whether inflation in the late 1960s is consistent with the AD-AS model

Real GDP driving price

VIDEO 6:15 minutes
Thinking about how high utilization could drive price as another justification for an upward sloping short-run aggregate supply curve

Cost-push inflation

VIDEO 5:45 minutes
How an oil shock can slow the economy while causing inflation