Long-Run Aggregate Supply, Recession, and Inflation- Macro Topic 3.4 and 3.5

In this video I explain the most important graph in your macroeconomics class. The aggregate demand and supply model. Make sure that you understand the idea of the long run aggregate supply and how to draw a recessionary gap and inflationary gap. Keep in mind that the "long run" is not a specific amount of time. The long run refers to enough time for resource prices (like wages) to adjust when there is a change in price level.Thanks for watching. Please subscribe.

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bruh!!! Glad you make videos like this. Everything click when you said " the trick is to remember when there is recession wages will eventually fall and when there is inflation wages will eventually go up!!! my final is next week and this chapter was putting me on my knees LOL

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you've explained Aggregate Demand, Supply and long run better than my university lecture and tutors ever have!

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The shifts in the graph have probably confused me the most ever since we started learning AD/AS. This has clarified so much more, thank you so much!

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