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Draw a generic aggregate supply and aggregate demand

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Reference no: EM132405640

Please assist with the following:

  • Draw a generic Aggregate Supply (AS) and Aggregate Demand (AD) curve on a set of axes. Label your vertical axis and your horizontal axis appropriately and indicate where the macroeconomic equilibrium is.
  • Then find a current events article that discusses some macroeconomic event that will affect either AS or AD. Represent this effect using a rightward or leftward shift as appropriate.
  • Interpret the effect on the price level, output, and unemployment in the context of your model as applied to your current events article.

Reference no: EM132405640

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