AP Microeconomics: Graphs! 2011-04-19T22:12:02Z Useful Macro Graphs Charles I. Jones Stanford GSB January 12, 2015 Many of these graphs are updated versions of graphs in the Short-Run section of my Macroeconomics textbook (W.W. Norton, 2014). About CliffsNotes 1. stream (1) NGDP equals production. 1. AKA “Crowding out.”(an increase in the demand of loanable funds instead of a decrease in supply is also acceptable)•If the government decreases spending it causes an increase in the supply of loanable funds that creates a lower interest rate. Write. You just clipped your first slide! Macroeconomists also develop models that explain … Study Flashcards On Macroeconomics: Midterm study guide at Cram.com. † Students considering macroeconomics as a field are strongly encouraged to attend the Macroeconomics Workshop, on Wednesdays from 4:00-5:30 in Robinson 301. AP Macroeconomics Graphs and Equations Guide – 2011 pg. •LRAS is equal to the full employment level of output.​•In the long run the economy will always return to LRAS.•In the short run the economy can have an inflationary gap (output above LRAS) or a recessionary gap (output below LRAS)•AD is equal to GDP and C+Ig+G+Xn•The government can use fiscal policy to shift AD right or left.•The Fed can use Monetary Policy to shift AD right or left.•AS can shift because of changes in productivity, costs of inputs, or supply shocks.•The LRAS can shift based on anything that would move the production possibilities curve (see micro)•If the economy is not at long run equilibrium, workers will eventually get lower (Recessionary gap) or higher (Inflationary gap) wages which means a change in input costs causing a shift of the AS towards long-run equilibrium, •The SRAS is the same thing as the AS curve•An economy with an AS curve like A will be able to increase output without increasing the price level.•An economy with an AS curve like B will be able to increase output while increasing the price level.•An economy with an AS curve like C cannot increase output. credit to mrmedico.info (I made screengrabs from his youtube video "Every Graph You Need" Terms in this set (25) Production Possibilities; U is inefficient. %PDF-1.4 ​•Supply and demand determine the exchange rates for world currencies.•The demand for a currency will shift because of a: •The supply for a currency will shift because of a: •Anytime there is an increase in the demand for a currency, there is simultaneously a decrease in the supply of the same currency. ​•The SRPC shows the inverse relationship between the inflation rate and the unemployment rate.•The LRPC lies at the Natural Rate of Unemployment (full employment).•The intersection between the SRPC and the LRPC is the expected rate of inflation.•When an economy is in long-run equilibrium the inflation rate will be at the intersection between the LRPC and the SRPC.•Changes in AD will cause movement along the SRPC.•Changes in AS will shift the SRPC left or right.•Changes in inflation expectations will cause SRPC to shift left or right. Essential graphs for AP Macroeconomics Production Possibilities Curve W D Demand and Supply √ Market clearing equilibrium P D Q Floors and Ceilings Q Variations: • Shifts in demand and supply caused by changes in determinants • Changes in slope caused … 10) By the way if your teacher is using the 7th or 8th edition of the text book, skip the $100+ price tag and just pick up the study guide. Get a 5 on your AP Macro Exam! (less common) indicates material that can, but rarely, appears on the AP test IV. 2011-04-19T22:12:00Z Created by. Quickly memorize the terms, phrases and much more. Macroeconomics is a branch of the economics field that studies how the aggregate economy behaves. ​•MS is the amount of money in the economy as calculated by M1 or M2. PLAY. AP Microeconomics: Exam Study Guide Format: 60 MC questions worth 66.67% of total. 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