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Economics, 15/e
Campbell R. McConnell, University of Nebraska, Emeritus
Stanley L. Brue, Pacific Lutheran University
Chapter 11 Aggregate Demand and Aggregate Supply
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Web-Based Questions
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Web-Based Questions
- Web-Based Question: Aggregate demand
and supply-equilibrium prices and GDPs Actual data showing aggregate
demand and supply curves do not exist. However, data for prices (CPI) and
GDP do exist for several countries. Go to www.oecd.org/std/fas.htm
and look at the data for the United States, Japan, and Germany. Assume that
the CPI and GDP figures shown represent the equilibrium price levels and real
GDPs for their respective years. Plot the price/GDP levels for the past 3
years for each country, using a graph similar to Figure 11.12. Are there any
similarities across countries? What changes in aggregate demand and aggregate
supply do the equilibrium points imply?
- Web-Based Question: Feeling wealthier;
spending more At the St.Louis Federal Reserve Bank website, www.stls.frb.org/fred/data/gdp.html,
find the levels of real GDP and real consumption for 1996 and 1999. Did consumption
increase more rapidly or less rapidly in percentage terms than disposable
income? At select Dow Data and then
Historical Queries to find the level of the Dow Jones Industrial Average (DJIA)
for June 28, 1996, and June 30, 1999. What was the percentage change in the
DJIA over that period? How might that change help explain your findings about
the growth of consumption versus real GDP between 1996 and 1999?
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Interactive Graphs
Origin of the Idea