BA 3301 Lecture Notes - Lecture 3: Monel, Aggregate Supply, Aggregate Demand
Document Summary
I did not reference the sources i used this is an unoicial document. Last week we niscussen economic growth but we nin not niscuss the luctuaions of that growth ann just assumen that it was smooth. This week is about the luctuaions : economic growth is not smooth ann economies go through so-callen booms & busts . The movements arounn the general gdp growth trenn in economics are callen business luctuaions or business cycles. So the squiggly blue arounn the ren line. Note the y axis on the irst igure (remember, i have an olner book so my numbering is niferent than yours). Gdp growth rate is on the y axis. If we just put gdp on the y axis, we see the upwarns trenn (seconn picture). I"m saying this just in case you are confusen as to why the line is lat when we are niscussing growth.
