Page 53 - FINAL CFA SLIDES DECEMBER 2018 DAY 5
P. 53
Session Unit 4:
15. Aggregate Output, Prices & Economic Growth, p.52
LOS 16.i: Describe how fluctuations in aggregate demand and aggregate supply cause short-run changes in the
economy and the business cycle
LOS 16.j: Distinguish between the following types of macroeconomic equilibria: long-run full employment, short-
run recessionary gap, short-run inflationary gap, and short-run stagflation
LOS 16.k: Explain how a short-run macroeconomic equilibrium may occur at a level above or below full
employment.
From say, increase input prices!
