00:01
So here we see the answers are asking about aggregate demand, aggregate supply.
00:05
So let's sketch that model before we do anything else, right? remember, oh, sorry, it's not q, that's a regular market.
00:12
Aggregate demand, aggregate supply is a story about output and prices.
00:15
We have an upward sloping aggregate supply curve.
00:18
We have a downward sloping aggregate demand curve.
00:20
I usually think of aggregate demand as c plus i plus g plus nx.
00:25
Those are the sources of demand in the economy.
00:28
And i usually think of as as reflecting firm business models, right? how, what price can they supply a certain number of units at? how will they change the number of units they're willing to produce in different economic conditions? now, this is, right, looks like gdp...