Take notes on these FIRST!
| phillips_curve.ppt |
| 5.2.pptx |
| 5.3.pptx |
Definitions to know and be able to illustrate with examples.
- Phillips Curve (be able to explain the difference between the short run and long run Phillips Curves) See Phillips Curve Ppt above
| ncee_activity_46.pdf |
| activity_46_key |
- Government Budget Surplus/Deficits (see 5.3 Ppt)
- National Debt (see 5.3 Ppt)
- Describe issues with having an excessive debt (see 5.3 Ppt)
- Crowding Out (connect how government borrowing causes and be able to illustrate with a loanable funds graph. (See Learn Unit Four Tab)
| ncee_activity_44.pdf |
| act._44_ans.pdf |
- Economic Growth (include how it is measured using GDP per capita over time.)
- Supply-side fiscal policies (these are policies that target infrastructure and technology to encourage long term economic growth.)
Be able to graph
- Phillips Curve
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Connecting video AD/AS and Phillips: https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/ap-long-run-consequences-of-stabilization-policies/the-phillips-curve/v/macroeconomics-the-long-run-phillips-curve-lrpc
- Economic Growth by shifting Long run aggregate supply and using a Production Possibilities Curve
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Be able to calculate
No new calculations but this is where all of the multiplier calculations, nominal vs real wages/interest rates all start to come into play. Try question one from 2017. After you attempt the full question you can watch Mr.Clifford’s explaination!
No new calculations but this is where all of the multiplier calculations, nominal vs real wages/interest rates all start to come into play. Try question one from 2017. After you attempt the full question you can watch Mr.Clifford’s explaination!
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