Remove bullet in graph – graph needs no additional title???
The order of discussion in Mankiw has been changed. The “misperceptions theory” must be moved to the bottom of the list. (This may affect the entire order of presentation following this slide.)
Move this slide so that it follows the next two slides. That puts the discussion in the new order of the text.
For consistency, title this slide, “Why the Aggregate supply curves slopes upward in the short run” like the previous two slides. Then move “The sticky-price theory” in large print to the top bullet (like the previous two slides).
Should title be, “Why the short-run aggregate supply…”
Bullet three, move the misperceptions theory to the end.
In the long run, an economy’s production of goods and services depends on its supplies of labor, capital, and natural resources and on the available technology used to turn these factors of production into goods and services.
The price level does not affect these variables in the long run.