National income and price determination

Aggregate demand

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Aggregate demand
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Shifts in aggregate demand
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Lesson summary: aggregate demand
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Aggregate DemandGet 3 of 4 questions to level up!

Multipliers

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MPC and multiplier
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Tax multiplier, MPC, and MPS
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Lesson summary: The expenditure and tax multipliers
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Expenditure and Tax MultipliersGet 3 of 4 questions to level up!

Short-run aggregate supply

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Short run aggregate supply
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Lesson summary: Short-run aggregate supply
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Short-run aggregate supplyGet 3 of 4 questions to level up!

Long-run aggregate supply

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Long-run aggregate supply
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Lesson summary: long-run aggregate supply
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Long-run aggregate supplyGet 3 of 4 questions to level up!

Equilibrium in the AD-AS Model

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Short run and long run equilibrium and the business cycle
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Lesson summary: equilibrium in the AD-AS model
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Equilibrium in the AD-AS modelGet 3 of 4 questions to level up!

Changes in the AD-AS model in the short run

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Shifts in aggregate demand
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Demand-pull inflation under Johnson
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Cost-push inflation
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Lesson summary: Changes in the AD-AS model in the short run
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Changes in the AD-AS model in the short runGet 3 of 4 questions to level up!

Long run self-adjustment

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Long run self adjustment
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Lesson summary: Long run self-adjustment in the AD-AS model
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Long run self-adjustment in the AD-AS modelGet 3 of 4 questions to level up!

Fiscal policy

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Fiscal policy to address output gaps
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Calculating change in spending or taxes to close output gaps
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Lesson summary: Fiscal policy
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Fiscal Policy basic conceptsGet 5 of 7 questions to level up!
Fiscal policy choicesGet 3 of 4 questions to level up!

Automatic stabilizers

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Automatic stabilizers
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Lesson summary: automatic stabilizers
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Automatic stabilizersGet 3 of 4 questions to level up!

About this unit

In this unit, you'll learn how the aggregate supply and aggregate demand model helps explain the determination of equilibrium national output and the general price level, as well as to analyze and evaluate the effects of fiscal policy. You'll also learn about the impact of economic fluctuations on the economy’s output and price level, both in the short run and in the long run.