Changes in the quality/quantity of factors of production
Max- -- demand
change in income
change in tastes and preferences
change in substitutes
change in prices of outputs
Matt - investment (AD)
Interest rate
Confidence (animal spirits)
Demand for product
Jeff - consumption (AD) Olivia - net exports (AD) -Income (as foreign income increases so do net exports) -prices (increase in foreign prices means an increase in net exports) -exchange rate (depreciation of currency increases net exports) -government policy (if imports are restricted due to protectionist policies, net exports increase)
- Technology
- Prices of goods
- Change in inputs
- Price of related goods (substitutes)
- Firm's expectations
- Market entry/exit
- Availability/scarcity of resources
- Changes in the quality/quantity of factors of production
Max- -- demandMatt - investment (AD)
- Interest rate
- Confidence (animal spirits)
- Demand for product
Jeff - consumption (AD)Olivia - net exports (AD)
-Income (as foreign income increases so do net exports)
-prices (increase in foreign prices means an increase in net exports)
-exchange rate (depreciation of currency increases net exports)
-government policy (if imports are restricted due to protectionist policies, net exports increase)
Alec - Aggregate Supply
John -
Elasticity