Lecture Material for Chapter 10, Part Two


FIGURE L10-7


Where:

SRAS is short-run aggregate supply.

LRAS is long-run aggregate supply.

 

 

 

 

 

 


FIGURE L6-4

 

 

 

 

 

 

The relationship between the production possibilities frontier and the long-run aggregate supply curve.

 

FIGURE L10-8

Note: Figures not drawn to scale.

 

 

 

 

 

 

 

FIGURE L10-9

 

 

 

 

 

 


FIGURE L10-10

 

 

 

 

 

 

 

 

 

 

 

 


THE ECONOMY IN LONG-RUN EQUILIBRIUM

FIGURE L10-11

 

 

 

 

 

 

 

FIGURE L10-12

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FIGURE L10-13

 

 

 

 

 

 

FIGURE L10-14