Write an essay examining how the aggregate demand and supply curve works. Expand on these concepts by exploring long and short run aggregate supply curves. Explain what shifts in these curves means and what equilibrium is and how it is achieved. Illustrate how all of this feeds into the IS/MP model (Investmentâ€“Savings / Monetaryâ€“Policy) in order to forecast the economy or â€œread the tea leaves.â€
This essay should be formatted in APA. The essay content should be 2-4 pages long, and include an additional page with at least two references from distinct sources. You can use your book as one reference and any search engine or library resources (see the Resources tab above) for additional references. Wikipedia is not a credible website and may not be used. You may also import pictures, but it is not required.