• Define and explain Say's Law
 
• Define and explain Keynes' Law
 
• Define Aggregate Supply and, using the AS Curve, explain the relationship between Price and Real GDP.
 
• Describe different factors that might make consumers more confident and thus more apt to spend money and explain how this causes a shift in AD and the GDP.
 
• There are four components of the GDP; for each component, identify one reason for a decrease in Aggregate Demand and explain how this change affects AD; (please exceed a minimum of 100 wor to address each component)
  • Consumption
   
  • Investment
   
  • Government
   
  • Net Exports

Be sure to exceed a minimum of 125 words for each requirement to ensure thorough depth and detail is utilized in demonstrating your understanding of the answer

Answer rating: 100% (QA)

Understanding Supply and Demand in the Macroeconomy Says Law vs Keynes Law Says Law SupplySide Focus Proposed by JeanBaptiste Say it suggests that supply creates its own demand In simpler terms as goo... View the full answer