ILO:
a) The concept of equilibrium real national output
b) The use of AD/AS diagrams to show how shifts in AD or AS cause changes in the equilibrium price level and real national output
a) The concept of equilibrium real national output
b) The use of AD/AS diagrams to show how shifts in AD or AS cause changes in the equilibrium price level and real national output
Equilibrium real national output
Equilibrium income or equilibrium real national output occurs where planned AD equals planned AS.
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Explain how the budget will impact the macro equilibrium. (5 marks)
Money Expert Martin Lewis Explains How the Latest Budget Could Affect You | Good Morning Britain
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Explain how England hosting the world cup in 2030 will
impact the macro equilibrium. (5 marks)
England World Cup: FA may seek to host 2030 World Cup tournament
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Task:
Research 3 articles which show the effects of changes in AD, SRAS and LRAS (Keynesian and classical) on the equilibrium price level and the equilibrium real national output level.
Research 3 articles which show the effects of changes in AD, SRAS and LRAS (Keynesian and classical) on the equilibrium price level and the equilibrium real national output level.