AP Macro Topic 3.6
Changes in the AD-AS Model
Part 2 - Draw It-For each of the following scenarios show the effect on AD, SRAS, and LRAS. Label the
initial price level PL, and the new price level and output, PL, and Y2. Start each
graph in either a positive
or a negative output gap, depending on the scenario.
8. In 2018 with unemployment at 4.1%, the Tax
Cuts and Jobs Act of 2017 went into effect
