Class Notes (836,164)
Canada (509,672)
Economics (1,617)
ECON 1BB3 (535)
Lecture

Lecture 25.docx

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Department
Economics
Course
ECON 1BB3
Professor
Hannah Holmes
Semester
Winter

Description
Lecture 25 The economy on the left is in a boom (expansion) phase, because the GDP is growing overtime. The Real GDP or Y is increased. The economy on the right is in a recession phase, because the GDP is decreasing overtime. The Real GDP or Y is decreased. Long run equilibrium Any affections to C, I, G, or NX will affect theAD curve to shift in or out Due to the higher oil prices, the SRAS shifted in to the left and P1 is shifted up to P2. Unemployment always mo
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