Describe the current state of the following economic factors and analyze how each affects aggregate supply and demand (AD/AS Model):
- The Interest rate effect
- Distribution of Income
- Production Costs
Specifically;
If each of these factors increased which curve would be affected, would there be movement along the curve or a shift of the curve?
Develop a set of recommendations for the president regarding government spending and taxes based on the economic factors’ current state and the effect it would have on the AD/AS model. Discuss whether the team has chosen a Keynesian or Classical set of recommendations and why.
Include a AD/AS Model showing the movement of each of the factors above.
Write a 800- to 1,200-word report that summarizes the recommendations. Ensure at least two in-text citations and remember to title and reference your graphs.
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