Monthly Archives: April 2011

Reflection: AD/AS Formative

After doing my AD/AS formative assessment, I would give myself a score of 7 out of 10. This is because I was able to define key terms such as “inflation” and “aggregate demand”, and I put in two diagrams and … Continue reading

Posted in Economics, Section 3 | 2 Comments

Unemployment + Economic Freedom

The neoclassical argument is that prices of goods and labor be determined by the market without any regulations. Economists who support this idea state that government intervention will lead to an increase in the unemployment rate, and this statement can … Continue reading

Posted in Economics, Section 3 | 1 Comment

An Increase in U.S. Taxes

Read the article here. This article explains how the taxes in the United States have increased over the few years. If such things happen, it will make an affect on the economy’s aggregate demand curve. The AD curve will shift … Continue reading

Posted in Economics, Section 3 | 1 Comment