Comparing the Long Run and Short Run in Macroeconomics
In preparation for your Portfolio Project, spend some time reflecting on, and then writing a short paper about, the differences between the long run and the short run in macroeconomics. For this assignment, you will want to revisit Module 4 and incorporate material from Module 6.
In your paper, address the following:
– Describe the factors that affect long-run economic growth
– Apply these factors in an AS/AD framework
– Describe the mechanisms through which monetary policy and fiscal policy affect the economy
– Apply these factors in an AS/AD framework
– Discuss the tradeoff between affecting the economy in the short run and in the long run.
Adhere to the following standards:
