Macro 3.3- Long Run Aggregate Supply, Recession, and Inflation (LRAS)
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In this video I explain the most important graph in your macroeconomics class. The aggregate demand and supply model. Make sure that you understand the idea of the long run aggregate supply and how to draw a recessionary gap and inflationary gap. Keep in mind that the "long run" is not a specific amount of time. The long run refers to enough time for resource prices (like wages) to adjust when there is a change in price level.Thanks for watching. Please subscribe. If you need more help, check out my Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji Macroeconomics Videos https://www.youtube.com/watch?v=XnFv3d8qllI Microeconomics Videos https://www.youtube.com/watch?v=swnoF533C_c Watch Econmovies https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH Follow me on Twitter https://twitter.com/acdcleadership
Comments
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Thank you so much sir.
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I just had my econ final, didn't understand what was going on the whole semester, binge watched your videos and here I am with an A- for the year. Thank you!
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this makes the boom-bust cycle make more sence
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Your lessons, help me score well in my assignments..
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Your lessons are awesome thanks
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you helped me a lot! Great video !
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OMG, I was going crazy with this concept in the book. You were so clear, in just few minutes!! Thank you so much :)
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Sir i want just you to know that if i passed both of my micro and marcecon classes then it's all because of you! Because i am taking macro and micro econ with the same profs, and he has bad handwriting and he jumps here and there that makes me lost as hell in class, and he tends to drag things too long which doesn't fit in my attention span. I like your teaching style how it's short and sweet and CLEAR, I can learn much more things in much lesser amount of time here than in class. 4 mins of your video is more than 2 hrs of my econ classes. Now i don't even bother to listen in class anymore since he gets me lost just 5 mins into the class, i don't write down his note too since i can't recognize what he writes on the board, all i do is come back home and watch your videos and within a few mins i'll be good to go. Thanks again! Most of my classmates can't tell what his writing on the board, and most of us will get discouraged, and i told them about your videos, and they told me i saved their asses! LOL.
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This video just saved my life, hehehe... <3 feeling educated
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This guy is the real mvp. #LikeForDecroly
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I have a question when the LRAS shifts to the right. What happens? Output increases in the long run and does inflation decrease also?
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I get that wages go down when aggregate supply decreases. But doesn't the price of the products also decrease, meaning that there is no real gain in profit, which means that producers won't produce more?
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Thank you for the great video but one question.. what would happen if the AS curve had shifted not the AD then how would the economy self correct?
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thank you so much foe these videos they are very very usefull!!
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my ib econ textbook says its a deflationary/inflationary gap instead of a recessionary but are they interchangeable?
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how does the economy self correct during a stagflation?
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Do you do any videos with Economic Shocks and Policy Responses in the IS-LM-AD-AS Model
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I bought the packet and it was the best purchase EVER! I learned Micro in 4 days binge watching your videos (and passed my final), and now I'm learning Macro. I haven't used any other sources. Thank you for taking the time to do these, I encourage EVERYONE to buy the packet, it's worth the $10 and it will help you a lot!
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Thank you soo much!
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