(a) Why does the AD curve slope downward? (b) If the AD curve were more steeply sloped,...
Question:
(b) If the AD curve were more steeply sloped, how would the economy respond differently to aggregate demand shocks (shocks to a)?
(c) If the curve were more steeply sloped, how would the economy respond differently to aggregate supply shocks (shocks to )?
(d) What kind of economic changes in the economy would lead the curve to be more steeply sloped?
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a Because when inflation rises the central bank chooses ...View the full answer
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Anurag Agrawal
I am a highly enthusiastic person who likes to explain concepts in simplified language. Be it in my job role as a manager of 4 people or when I used to take classes for specially able kids at our university. I did this continuously for 3 years and my god, that was so fulfilling. Sometimes I've skipped my own classes just to teach these kids and help them get their fair share of opportunities, which they would have missed out on. This was the key driver for me during that time. But since I've joined my job I wasn't able to make time for my passion of teaching due to hectic schedules. But now I've made a commitment to teach for at least an hour a day.
I am highly proficient in school level math and science and reasonably good for college level. In addition to this I am especially interested in courses related to finance and economics. In quest to learn I recently gave the CFA level 1 in Dec 19, hopefully I'll clear it. Finger's crossed :)
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