In this chapter, you will learn about: <ul><li>Macroeconomic Perspectives on Demand and Supply</li> <li>Building a Model of Aggregate Demand and Aggregate Supply</li> <li>Shifts in Aggregate Supply</li> <li>Shifts in Aggregate Demand</li> <li>How the AD/AS Model Incorporates Growth, Unemployment, and Inflation</li> <li>Keynes’ Law and Say’s Law in the AD/AS Model</li></ul>
In this section, you will:<ul><li>Write the augmented matrix of a system of equations.</li><li>Write the system of equations from an augmented matrix.</li><li>Perform row operations on a matrix.</li><li>Solve a system of linear equations using matrices.</li></ul>
By the end of this section, you will be able to:<ul><li>Explain the distribution of income, and analyze the sources of income inequality in a market economy</li><li>Measure income distribution in quintiles</li><li>Calculate and graph a Lorenz curve</li><li>Show income inequality through demand and supply diagrams</li></ul>