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Transcript 
CHAPTER 10
Price and Output Fluctuations
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-1
Aggregate Supply Curve
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-2
Keynesian, Classical, and Intermediate Ranges
of the Aggregate Supply Curve
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit M10-1
Disequilibrium in the Labor Market
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-3
An Increase in the AS Curve
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-4
Summary of the Major Exogenous Factors Affecting
Aggregate Supply
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-5
Aggregate Demand Curve
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-6
Why Does AD Slope Downward? Purchasing Power Effect
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-7
Why Does AD Slope Downward? Real Money
Supply Effect
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-8
Why Does AD Slope Downward? Wealth Effect
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-9
Why Does AD Slope Downward? Net Export Effect
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-10
An Increase in the AD Curve
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-11
Exogenous Factors That Influence Personal
Consumption
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-12
Exogenous Factors That Influence Gross Private
Domestic Investment
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-13
Exogenous Factors That Influence Government
Spending
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-14
Exogenous Factors That Influence Net Exports
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-15
Major Factors Causing a Change in Aggregate Demand
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Exhibit 10-16
Aggregate Supply Curve and Aggregate Demand Curve
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-17
Macroeconomic Equilibrium: Desired Aggregate
Demand Equals Desired Aggregate Supply
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Exhibit 10-18
Macroeconomic Disequilibrium
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Exhibit 10-19
Macroeconomic Disequilibrium
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-20
Demand-Pull Inflation: Changes in Aggregate Demand
and Its Effect on Real GDP and the GDP Price Index
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-21
Short-Run Phillips Curve Relationship
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-22
U.S. Phillips Curve Relationship, 1959–1968
Source: Federal Reserve Bank of St. Louis, Economic Data—FRED II, http://research.stlouisfed.org/fred2/
series/GDPC1/downloaddata (accessed January 14, 2006).
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-23
Phillips Curve Relationship, 1959–2006
Source: U.S. Department of Labor, Bureau of Labor Statistics, Labor Force Statistics from the Current Population
Survey, Consumer Price Index, http://www.bls.gov/data/home.htm (accessed October 14, 2006).
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-24
Cost-Push Inflation
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Exhibit 10-25
Example 1: The Bank Of Canada Loosens
the Money Supply
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-26
Example 2: Value of Thai Baht Depreciates
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Exhibit 10-27
Germany Reduces Income Taxes and Government
Spending
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
Economic Information for Switzerland, 2001–2005
Copyright© 2008 South-Western, a part of Cengage Learning. All rights reserved.
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