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1)Given a situation, know how Aggregate Demand curve changes. 2)Know how to determine the Opportunity Cost from a PPF curve. 3)What is allocative Efficiency? 4)Given

1)Given a situation, know how Aggregate Demand curve changes.

2)Know how to determine the Opportunity Cost from a PPF curve.

3)What is allocative Efficiency?

4)Given an example, know the difference between comparative advantage and absolute advantage.

5)What are the goals of the AD-AS model?

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