Boundless Lecture Slides
Available on the Boundless Teaching Platform
Free to share, print, make copies and changes. Get yours at www.boundless.com
Boundless Teaching
Platform
Boundless empowers educators to engage their students
with affordable, customizable textbooks and intuitive
teaching tools. The free Boundless Teaching Platform
gives educators the ability to customize textbooks in
more than 20 subjects that align to hundreds of popular
titles. Get started by using high quality Boundless books,
or make switching to our platform easier by building from
Boundless content pre-organized to match the assigned
textbook. This platform gives educators the tools they
need to assign readings and assessments, monitor
student activity, and lead their classes with pre-made
teaching resources.
Using Boundless Presentations
The Appendix
The appendix is for you to use to add depth and
breadth to your lectures. You can simply drag and
drop slides from the appendix into the main
presentation to make for a richer lecture
experience.
Get started now at:
http://boundless.com/teaching-platform
Free to edit, share, and copy
Feel free to edit, share, and make as many copies
of the Boundless presentations as you like. We
encourage you to take these presentations and
make them your own.
If you have any questions or problems please email:
educators@boundless.com
Free to share, print, make copies and changes. Get yours at www.boundless.com
About Boundless
Boundless is an innovative technology company making education more affordable and
accessible for students everywhere. The company creates the world’s best open educational
content in 20+ subjects that align to more than 1,000 popular college textbooks. Boundless
integrates learning technology into all its premium books to help students study more efficiently
at a fraction of the cost of traditional textbooks. The company also empowers educators to
engage their students more effectively through customizable books and intuitive teaching tools
as part of the Boundless Teaching Platform. More than 2 million learners access Boundless free
and premium content each month across the company’s wide distribution platforms, including its
website, iOS apps, Kindle books, and iBooks. To get started learning or teaching with
Boundless, visit boundless.com.
Free to share, print, make copies and changes. Get yours at www.boundless.com
Aggregate Demand and Supply > Introducing Aggregate Demand and Aggregate Supply
Introducing Aggregate Demand and Aggregate Supply
• Explaining Fluctuations in Output
• Classical Theory
• Keynesian Theory
Free to share, print, make copies and changes. Get yours at www.boundless.com
www.www/boundless.com/economics?campaign_content=book_1515_section_107&campaign_term=Economics&utm_campaign=powerpoint&ut
m_medium=direct&utm_source=boundless
Appendix
Free to share, print, make copies and changes. Get yours at www.boundless.com
Aggregate Demand and Supply
Key terms
• economic output The productivity of a country or region measured by the value of goods and services produced.
• Keynesian Economics A school of thought that is characterized by a belief in active government intervention in an economy
and the use of monetary policy to promote growth and stability.
• nominal Without adjustment to remove the effects of inflation (in contrast to real).
• self-regulating Describing something capable of controlling itself.
Free to share, print, make copies and changes. Get yours at www.boundless.com
Aggregate Demand and Supply
AS-AD Model
This AS-AD model shows how the aggregate supply and aggregate demand are graphed to show economic output. The AD curve shifts to the right
which increases output and price.
Free to share, print, make copies and changes. Get yours at www.boundless.com
Wikipedia. "AS AD graph." CC BY-SA http://en.wikipedia.org/wiki/File:AS_%252B_AD_graph.svg View on Boundless.com
Aggregate Demand and Supply
Adam Smith
Adam Smith was one of the individuals who helped establish classical economic theory.
Free to share, print, make copies and changes. Get yours at www.boundless.com
Wikipedia. "Smith." Public domain http://en.wikipedia.org/wiki/File:Smith.gif View on Boundless.com
Aggregate Demand and Supply
John Maynard Keynes
John Maynard Keynes introduced Keynesian theory in his book, The General Theory of Employment, Interest, and Money.
Free to share, print, make copies and changes. Get yours at www.boundless.com
Wikipedia. "John Maynard Keynes." Public domain http://en.wikipedia.org/wiki/File:John_Maynard_Keynes.jpg View on Boundless.com
Aggregate Demand and Supply
According to Hume, in the short run, an increase in the money
supply will ________, and in the long run, an increase in the
money supply will _________.
A) decrease production; do nothing
B) do nothing; increase production
C) do nothing; decrease production
D) increase production; do nothing
Free to share, print, make copies and changes. Get yours at www.boundless.com
Aggregate Demand and Supply
According to Hume, in the short run, an increase in the money
supply will ________, and in the long run, an increase in the
money supply will _________.
A) decrease production; do nothing
B) do nothing; increase production
C) do nothing; decrease production
D) increase production; do nothing
Free to share, print, make copies and changes. Get yours at www.boundless.com
Boundless - LO. "Boundless." CC BY-SA 3.0 http://www.boundless.com/
Aggregate Demand and Supply
Classical economists assume that _________.
A) All of these answers
B) real GDP can be determined without knowing the money supply or
rate of inflation
C) real and nominal variables can be analyzed separately
D) money affects only price and wage levels
Free to share, print, make copies and changes. Get yours at www.boundless.com
Aggregate Demand and Supply
Classical economists assume that _________.
A) All of these answers
B) real GDP can be determined without knowing the money supply or
rate of inflation
C) real and nominal variables can be analyzed separately
D) money affects only price and wage levels
Free to share, print, make copies and changes. Get yours at www.boundless.com
Boundless - LO. "Boundless." CC BY-SA 3.0 http://www.boundless.com/
Aggregate Demand and Supply
Suppose a government provided stimulus money to businesses in
order to reverse an economic downturn. This action most closely
aligns with which of the following economic schools of thought?
A) Classical school
B) Keynesian school
C) Austrian school
D) Rational expectations school
Free to share, print, make copies and changes. Get yours at www.boundless.com
Aggregate Demand and Supply
Suppose a government provided stimulus money to businesses in
order to reverse an economic downturn. This action most closely
aligns with which of the following economic schools of thought?
A) Classical school
B) Keynesian school
C) Austrian school
D) Rational expectations school
Free to share, print, make copies and changes. Get yours at www.boundless.com
Boundless - LO. "Boundless." CC BY-SA 3.0 http://www.boundless.com/
Aggregate Demand and Supply
Attribution
• Wikipedia. "Aggregate supply." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Aggregate_supply
• Wikipedia. "Output (economics)." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Output_(economics)
• Wikipedia. "Aggregate demand." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Aggregate_demand
• Wiktionary. "economic output." CC BY-SA 3.0 http://en.wiktionary.org/wiki/economic+output
• Wiktionary. "nominal." CC BY-SA 3.0 http://en.wiktionary.org/wiki/nominal
• Wikipedia. "Classical economics." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Classical_economics
• Wiktionary. "self-regulating." CC BY-SA 3.0 http://en.wiktionary.org/wiki/self-regulating
• Wikipedia. "Austrian School." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Austrian_School
• Wikipedia. "Chicago school of economics." CC BY-SA 3.0
http://en.wikipedia.org/wiki/Chicago_school_of_economics#Discussion
• Wiktionary. "Keynesianism." CC BY-SA http://en.wiktionary.org/wiki/Keynesianism
• Wikipedia. "Keynesian economics." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Keynesian_economics
• Wikipedia. "Keynesian Economics." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Keynesian%20Economics
Free to share, print, make copies and changes. Get yours at www.boundless.com