Real & Potential GDP: Understanding Equilibrium | Macroeconomics 25 of 31 | Study Hall

If you’re ready to start, restart, or continue your own college journey with Study Hall, go to https://link.gostudyhall.com/mecon to join a college course that starts on YouTube for just $25, and unlock the opportunity to earn transferable credits from ASU. Putting the pieces of the aggregate demand curve alongside the aggregate supply, we can graph how different unexpected shocks to the economy will alter price level and output. This economic model helps us understand connections between rising and falling prices and the changes in things like employment levels in the economy. __________________________________________________________________________ Follow us on social media! Twitter:   / gostudyhall   Instagram:   / gostudyhall   Facebook:   / gostudyhall   __________________________________________________________________________ Chapters: 0:00 - Introduction 1:22 - Aggregate Supply and Demand Equilibrium 4:58 - Shocks to Aggregate Demand 7:20 - A Shock to Short-Run Aggregate Supply 8:38 - A Return to Equilibrium 10:15 - Can Long-Run Aggregate Supply Change? 11:50 - Conclusion