ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 1/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 2/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 3/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 4/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 5/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 6/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 7/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 8/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 9/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 10/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 11/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 12/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 13/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 14/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 15/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 16/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 17/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 18/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 19/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 20/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 21/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 22/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 23/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 24/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 25/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 26/33
ECON1220A Intro Macro Chi-Wa Yuen

(Normal) Downward-sloping AD
P

LRAS SRAS0 (Pe0)

SRAS1 (Pe1)

SRAS2 (Pe2)
E0
e
P0 = P0
e
E1SR
P1 = P1
E2SR SR
P2e = P2 E3
P3 E1LR
AD0

AD1

0 y1 y2 y3 y0 y

Upward-sloping AD (“steeper” than SRAS)

P LRAS SRAS0 (Pe0)
AD1 AD0
SSRAS1 (Pe1)
E1LR SRAS2 (Pe2)
E0

P0e = P0
E1SR
e
P1 = P1
E2SR
P2e = P2

E3SR
P3

0 y3 y2 y1 y0 y

11/4/2019 27/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 28/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 29/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 30/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 31/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 32/33
ECON1220A Intro Macro Chi-Wa Yuen

11/4/2019 33/33