This note illustrates the IS/LM model to input alterations to aggregate price level and to permit output to be decided by aggregate supply and demand. The note introduces the notion of the full employment level of output, provides micro foundations that underpin the aggregate supply curve, and discusses the results of fiscal and monetary policy when the economy is above and below the maximum employment level of output. The note ends by appraising the exogenous components of IS/LM AD/AS model.
PUBLICATION DATE: September 08, 2014 PRODUCT #: UV6851-HCB-ENG
This is just an excerpt. This case is about GLOBAL BUSINESS
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