Macro: Unit 2.5 -- Long-Run Economic Growth

Hey Everyone! I'm Mr. Willis, and You Will Love Economics!

In this video, I will:
- Discuss how changes in the components of long-run aggregate supply can lead to
economic growth or contraction in the long-run
- Analyze how long-run economic growth and long-run economic contraction affect a
variety of conditions and indicators in an economy, including price level the capacity to
produce Real GDP output
- Explain how long-run growth benefits economic participants while long-run contraction
hurts them

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[agentravi]

Now I understand the concept excellent lecture

[themorester]

In your Russia example, the inward shift of the SRAS curve create Stagflation in the short-run. Would the government just let the LRAS shift inward as well or would they try and stimulate aggregate demand to try and boost real GDP?

[mahoo_ofc]

In the exaples reasons for long run economic growth were always related to a increase in aggregated supply. Are there cases / examples where increased aggregated demand leads to long run economic growth?

[komronmahmarajabov]

because of my exam i watched all videos. Thanks it was helpful. go ahead

[rohan]

It's a trap, the greatest grandpa joke of all time