Long-Run Aggregate Supply, Recession, and Inflation- Macro Topic 3.4 and 3.5

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  • Опубліковано 29 січ 2025

КОМЕНТАРІ • 269

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    @calidrummer1221 9 років тому +1

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    • @JacobAClifford
      @JacobAClifford  9 років тому

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      i assume you have graduated from college now. do you still hate your professor?

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    @josephinemwidya 4 роки тому

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    @aliakhan239 4 роки тому

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    @rovercoupe7104 Рік тому

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  • @xuanthi2511
    @xuanthi2511 3 роки тому

    Case 1: stock market crash (affect Consumption) A shift in AD to the left causes recession (rising unem, falling prices) -> in the long run, wages will decrease -> cost of production decrease -> AS rises

  • @ishmaelramushu7808
    @ishmaelramushu7808 9 років тому

    thanks sir i aways get distinctions in Econ because of you ..

  • @MilesEvery
    @MilesEvery 6 років тому

    Great vid, thanks

  • @zhideliang
    @zhideliang 6 років тому

    When price level increases, workers can demand higher wages, but there is no guarantee that they can get it, meaning that if they don’t, AS stays where it is, instead of moving towards AS1. The result is that a temporary increase in output level becomes permanent, meaning that LRAS moves to the right and we suddenly realize that we can do so much more than we think we could. Also, if increase in AD is due to increased investment which leads to innovation that yields higher level of output, then we would also see right shift of LRAS rather than the left shift of AS. The model seems to suggest that either working habit is a constant or technology is a constant, or both... but they are, in the real world, constantly evolving...

  • @Igor-ug1uo
    @Igor-ug1uo 7 років тому +1

    2:28 Wasn't the FDR's administration doing everything to prevent this self-correction? They tried to prevent wages from going down by introducing a federal minimum wage, created cartels by working with big businesses and engaging in price fixing at higher levers, limited agricultural supply by paying farmers not to produce, etc.

  • @manpiero104
    @manpiero104 4 роки тому

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    @UnoMotlh 8 років тому +3

    This video just saved my life, hehehe...

  • @saradavies9960
    @saradavies9960 9 років тому

    Can I ask what determines aggregate supply in a closed economy and how?
    Love your videos
    Thanks!!!!

  • @veronicavoinovich1300
    @veronicavoinovich1300 6 років тому

    God these videos are helpful! Thank you!!

  • @UškoDugouško-u1o
    @UškoDugouško-u1o Рік тому

    Hi Jacob, I'm having a problem understanding the long-run self-adjustment you explained from 2:00 onwards. Isn't it that in an inflationary gap, as the price level increases that the AS should increase as well, as more producers are willing to supply stuff since there is bigger demand which raises the price level? You said that AS decreases in an inflationary gap, which then raises the price level even higher.
    On the other hand, it is also logical to me that in a recessionary gap, as the AD decreases, AS should decrease as well as fewer producers are willing to supply stuff when AD and hence the price level is lowered. You said that in such recessionary gap cases, when wages and price level fall, AS increases, but why would AS increase as a response to lower prices? It is illogical to me that way.
    Also, both scenarios in the way you explained them end up at a different price level compared to the one they started at, so how is that self-adjustment?
    Your answer would mean a lot, I must be missing something crucial here. Thank you for your work!

  • @areejatta3338
    @areejatta3338 6 років тому

    Thanks man 😊

  • @yashb2997
    @yashb2997 4 роки тому

    Wow. Simply wow.