During the 1990’s, the U.S. economy experienced strong growth, full-employment, and very low inflation rates. How could you explain this, using the AD/AS model? In other words, what shifts in AD and/or AS would explain this outcome? Think about this not just in terms of AD and AS, but also in terms of the specific changes that can lead to shifts of those functions.
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During the 1990’s, the U.S. economy experienced strong growth, full-employment, and very low inflation rates. How could you explain this, using the AD/AS model? In other words, what shifts in AD and/or AS would explain this outcome? Think about this not just in terms of AD and AS, but also in terms of the specific changes that can lead to shifts of those functions.
Previous answers to this question
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