Macroeconomics Unit IV and V - Inflation, Unemployment, and Economic GrowthThis is a featured page

Chapter 15: Extending the Analysis of Aggregate Supply - In this chapter you will learn:
  • About the relationship between short-run aggregate supply and long-run aggregate supply.
  • How to apply the "extended" (short-run/long-run) AD-AS model to inflation, recessions, and unemployment.
  • About the short-run tradeoff between inflation and unemployment (the Phillips Curve).
  • Why there is no long-run tradeoff between inflation and unemployment.
  • The relationship between tax rates, tax revenues, and aggregate supply.


Chapter 16: Economic Growth - In this chapter you will learn:
  • About the general ingredients of economic growth and how they relate to production possibilities analysis and long-run aggregate supply.
  • About "growth accounting" and the specific sources of U.S. economic growth.
  • Why U.S. productivity growth has accelerated since the mid-1990s.
  • About differing perspectives on whether growth is desirable and sustainable.

Chapter 17: Disputes over Macro Theory and Policy - In this chapter you will learn:
  • The differences between the historical Keynesian and classical macro perspectives.
  • About alternative perspectives on the causes of macroeconomic instability, including the views of mainstream economists, monetarist, real-business cycle advocates, and proponents of coordination failures.
  • What the equation of exchange is and how it relates to "monetarism."
  • Why new classical economists believe the economy will "self-correct" from aggregate demand and aggregate supply shocks.
  • The variations of the debate over "rules" versus "discretion" in conducting stabilization policy.

AP Econ in the News - Macro Unit IV and V: Inflation, Unemployment, and Economic Growth

Student Thought Forum: Start a discussion thread below. Follow the threads started by your classmates, make contributions and comments on a discussion that is interesting to you.


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kevinhuang Is there such thing as too much growth? (page: 1 2) 30 Dec 16 2008, 6:33 AM EST by mkaga
Thread started: Apr 4 2008, 10:35 AM EDT  Watch
I am quite sure that there is such a thing as too much growth because it can cause many problems in society. For example, recently there has been too much economic growth and as a result, many typical Chinese citizens that live near the poverty line can't afford pork for their families because of rapidly inflating pork prices. Uncontrolled growth in China has also caused huge amounts of industrial pollution that is harmful to the environment. At what point, under what circumstances is a nation having too much economic growth, how can we determine this and what are various ways that governments can use to prevent excessive pollution and damage to the environment while keeping in mind the welfare of the people?
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TimChu The long run phillips curve 8 Apr 13 2008, 1:27 PM EDT by jinnykwon0314
Thread started: Apr 7 2008, 11:32 AM EDT  Watch
so the other questions in the threads are pretty much answered and i don't have anything much to say so im starting a new one. hooray me. anyways, the Philips curve explains the relationship between unemployment and rate of inflation right? and the long run PC curve is a vertical line. I'm not sure if we went through this in class, but doesn't that mean the inflation rates of our economy are ever increasing? And isn't that bad for the economy? Does this mean that we're pretty much doomed or is there a way to combat this and bring the inflation rate back down? going out on a limb here so dont bash too hard please :D
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anqxl Taxes and Incentives to Work 6 Apr 12 2008, 10:32 PM EDT by rksung
Thread started: Apr 7 2008, 10:08 AM EDT  Watch
According to the textbook, supply-siders focus their attention on marginal tax rates, and lower marginal tax rates make leisure more expensive. Why do you need to pay more for leisure when you have extra dollars?
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