Exam (elaborations) Equilibrium in the AD and AS Model (ECON101)
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Course
Equilibrium in the AD and AS Model (ECON101)
Institution
Flowery Branch High
Exam (elaborations) Equilibrium in the AD and AS Model (ECON101)
Equilibrium in the AD and AS Model
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Essay
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3. For the question below, write an explanation of the short-run eect (including the determinant of AD or AS
(5 points)
that is causing the shi𐴀, the line that shi𐴀s [AD or AS], the direction of the shi𐴀 [le𐴀 or right], and the
impact on output and price level [increase or decrease]) and submit a properly drawn and labeled
aggregate demand and aggregate supply graph for the scenario. Make sure your name and
assignment number are written on each page of graphs you submit. All text must be written in the text
box provided.
Tourists flock to visit the major theme parks in Orlando, Florida.
Essay:
In this scenario, the AD line shi𐴀s to the right due to the increase of tourists who are buying the
amusement park tickets which increases the demand for US exports (the determinant is net exports).
1/7
, Equilibrium in the AD and AS Model
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2/7
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