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Ch 7: Aggregate Demand and Supply: Tutoring Solution

About This Chapter

The Aggregate Demand and Supply chapter of this College Macroeconomics Tutoring Solution is a flexible and affordable path to learning about aggregate demand and supply. These simple and fun video lessons are each about five minutes long and they teach all of the aggregate demand and supply models and determinants required in a typical college macroeconomics course.

How it works:

  • Begin your assignment or other macroeconomics work.
  • Identify the aggregate demand and supply concepts that you're stuck on.
  • Find fun videos on the topics you need to understand.
  • Press play, watch and learn!
  • Complete the quizzes to test your understanding.
  • As needed, submit a question to one of our instructors for personalized support.

Who's it for?

This chapter of our college macroeconomics tutoring solution will benefit any student who is trying to learn about aggregate demand and supply and earn better grades. This resource can help students including those who:

  • Struggle with understanding the Keynesian Model, classical model, marginal propensity to consume, sticky wages, favorable supply shocks or any other aggregate demand and supply topic
  • Have limited time for studying
  • Want a cost effective way to supplement their economics learning
  • Prefer learning economics visually
  • Find themselves failing or close to failing their aggregate demand and supply unit
  • Cope with ADD or ADHD
  • Want to get ahead in macroeconomics
  • Don't have access to their economics teacher outside of class

Why it works:

  • Engaging Tutors: We make learning about aggregate demand and supply simple and fun.
  • Cost Efficient: For less than 20% of the cost of a private tutor, you'll have unlimited access 24/7.
  • Consistent High Quality: Unlike a live economics tutor, these video lessons are thoroughly reviewed.
  • Convenient: Imagine a tutor as portable as your laptop, tablet or smartphone. Learn about aggregate demand and supply on the go!
  • Learn at Your Pace: You can pause and rewatch lessons as often as you'd like, until you master the material.

Learning Objectives

  • Compare and contrast the Keynesian and classical models of the economy.
  • Take a look at supply and demand curves in both the Keynesian and classical economic models.
  • Become familiar with the aggregate demand and aggregate supply (AD-AS) model.
  • Describe the factors that can shift labor supply and labor demand.
  • Explain the relationship between the marginal propensity to consume and aggregate demand.
  • Understand how government spending can negatively affect private investment.
  • Learn what determines aggregate supply.
  • Discuss the effects of sticky wages on equilibrium.
  • Explore examples of favorable and unfavorable supply shocks.

10 Lessons in Chapter 7: Aggregate Demand and Supply: Tutoring Solution
Test your knowledge with a 30-question chapter practice test
The Keynesian Model and the Classical Model of the Economy

1. The Keynesian Model and the Classical Model of the Economy

Economists use two basic models to describe economic growth. In this lesson, you'll find out more about each one of these models using real-world examples. So buckle up your seatbelts!

Supply and Demand Curves in the Classical Model and Keynesian Model

2. Supply and Demand Curves in the Classical Model and Keynesian Model

See how economists illustrate aggregate supply and aggregate demand in the long-term and short-term using the Classical and Keynesian models. This lesson emphasizes the differences in the shape of the aggregate supply curve using these two models.

Aggregate Supply and Aggregate Demand (AS-AD) Model

3. Aggregate Supply and Aggregate Demand (AS-AD) Model

Supply and demand models are useful for examining the behavior of one good or market, but what about looking at a whole economy? Luckily, the aggregate supply and aggregate demand model lets us do just that.

Understanding Shifts in Labor Supply and Labor Demand

4. Understanding Shifts in Labor Supply and Labor Demand

Find out what the labor supply is and what causes it to change or shift. Learn about labor demand and what causes firms and markets to increase or decrease their demand for labor.

Marginal Propensity to Consume: Definition and Formula of the MPC

5. Marginal Propensity to Consume: Definition and Formula of the MPC

MPC or MPS, what category is higher when you have extra money? In this lesson, learn about the marginal propensity to consume, one of the most important assumptions underlying fiscal and monetary policy.

Government Spending, GDP, and Crowding Out Private Investment

6. Government Spending, GDP, and Crowding Out Private Investment

When the government spends more than it earns, it has to borrow money, which has repercussions throughout the economy. In this lesson, learn how government spending can crowd out private investment in the market for loanable funds.

Aggregate Supply in the Economy: Definition and Determinants

7. Aggregate Supply in the Economy: Definition and Determinants

Learn about one of the fundamental components of economics. Find out what aggregate supply is and seven of the most common areas that influence it in today's economy.

Aggregate Supply in the Short Run

8. Aggregate Supply in the Short Run

Learn about aggregate supply in the short run (SRAS) and what that really means. Find out how the overall price of goods affects quantity supplied in the short run and other key determinants that can increase and decrease aggregate supply in this time period.

Sticky Wages and Prices: Effect on Equilibrium

9. Sticky Wages and Prices: Effect on Equilibrium

With the help of real-world examples, this lesson explains Keynes' important observation that wages and prices often don't adjust quickly to changes in economic conditions

Favorable Supply Shocks & Unfavorable Supply Shocks

10. Favorable Supply Shocks & Unfavorable Supply Shocks

In this lesson you'll learn the definitions, causes and effects of the two types of supply shocks in the economy by looking at a fictitious economy as an example.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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