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Here are the original directions:
This one is going to be on paper. There is no good computer substitute for being able to draw a graph and use it to effectively understand and communicate complex concepts.
Print the attached file on paper (2 pages)
Use pens or pencil (colored pens look best!) to draw graphs on the paper.
Follow the directions
(except where it says “Teams”, which we would do together if we were in class).
you will submit individually
Make sure to graph and label as directed.
A sample answer is given at the top.
Explain briefly what the cause and effects of the change in AD or AS were. You can use abbreviations and arrows. Full sentences are not necessary. Follow these steps (in this order):
What factor or determinant (like income, resource costs, expectations, etc.) caused the change?
Does this affect AD or AS?
Which direction (increase or decrease)?
What was the effect on equilibrium GDP and Price Level (did they increase or decrease, or can you tell?)
Hint: While there may be several possible causes happening in a few questions, pick the one you think had the most significant effect on AD or AS. In other words, shift only one curve for each question. You may write a brief explanation, if you wish, in the blank space next to each graph.
Once you have finished on paper, take a picture (or scan) of your two pages, and submit them to this assignment (hit “submit assignment” button).