The Aggregate Demand & Aggregate Supply Model

The aggregate demand (AD) curve and the factors that cause movements along and shifts of it; the short-run aggregate supply (SRAS) curve and its movements and shifts; the long-run aggregate supply (LRAS) curve and its shifts; macroeconomic equilibrium in the AD/AS model; the impact of changes in aggregate demand and aggregate supply on equilibrium; and the use of the AD/AS model to explain the business cycle.