20. P2
Price
Level
Real GDP orY
Increase Aggregate Demand
Lower Taxes and/or Increase Spending
18
Long Run
Aggregate
Supply
Short Run
Aggregate
Supply
19
P1
Aggregate
Demand
17
Unemployment
21. P3
Price
Level
Real GDP orY
Decrease Aggregate Demand
Raise Taxes and/or Decrease Spending
18
Long Run
Aggregate
Supply
Short Run
Aggregate
Supply
19
P1 Aggregate
Demand
17
In
fl
ation
32. P4
Price
Level
Real GDP orY
Fiscal Policy and Negative Supply Shock
18
Long Run
Aggregate
Supply Short Run
Aggregate
Supply
19
P1
Aggregate
Demand
17
P2
P3
In
fl
ation and
Recession
Stag
fl
ation
33. P3
Price
Level
Real GDP orY
Increase Long Run Aggregate Supply
Lower Marginal Tax Rates
18
Long Run
Aggregate
Supply
Short Run
Aggregate
Supply
19
P1
Aggregate
Demand
17
Lower Prices
Increase
Output
34. Time Lags
Do you really know?
Congress approve
Effect lag
Take 1- 3 years
Counterproductive
54. "In obedience there is joy and
peace . . . and as God has
designed our happiness . . . , He
never has β He never will . . .
give a commandment to His
people that is not calculated in
its nature to promote that
happiness which He has
designed."
56. Money Price Γ· Hourly Income
Hours and Minutes
Percent Change over time
Time Price Multiplier
Time Prices
57. For the earth is full, and there is enough and
to spare; yea, I prepared all things, and have
given unto the children of men to be agents
unto themselves.
- D&C 104:17