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Free Market Long-Run Adjustments Activity

Free Market Long-Run Adjustments Activity
Free Market Long-Run Adjustments Activity
Free Market Long-Run Adjustments Activity
Free Market Long-Run Adjustments Activity
Free Market Long-Run Adjustments Activity
Free Market Long-Run Adjustments Activity
Free Market Long-Run Adjustments Activity
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4 MB|20 pages
Product Description
Are you looking for an engaging and dynamic lesson that hits multiple intelligences and gives your students an opportunity to evaluate how classical economists believe the free market economy fixes itself without government policy? This is the activity you've been looking for!

This activity includes:

1) This "Free Market Long-Run Adjustments" Activity includes 5 parts. It begins with a graphic organizer that asks your students to describe how a short-run increase in aggregate demand changes price level and Real GDP output in an economy, and then how flexible wages allow the market to correct itself and return to long-run equilibrium. Next, students will have a chance to explain how a short-run increase in aggregate supply changes price level and Real GDP output in an economy, and then how flexible wages allow the market to correct itself and return to long-run equilibrium. Students will then describe how a short-run decrease in aggregate demand changes price level and Real GDP output in an economy, and then how flexible wages allow the market to correct itself and return to long-run equilibrium. Then, students will theorize how a short-run decrease in aggregate supply changes price level and Real GDP output in an economy, and then how flexible wages allow the market to correct itself and return to long-run equilibrium. Finally, students will use their knowledge to analyze 5 aggregate economies and changes in aggregate supply and demand that will open GDP gaps. Students will graph the change, investigate how certain economic indicators will be effected, and then analyze how the aggregate economy will return to long-run equilibrium, graphing the change on the graph provided.

This activity can be used in many different ways in the classroom. Students can work independently, in pairs or this activity can be used as a jigsaw in order to facilitate a class wide discussion about the topics discussed in the activity.

2) A detailed answer key to the lesson activity to save you time and help guide student comprehension.

This activity can also be found in a bundle paired with a PowerPoint, Keynote and PDF version of a fully customizable lecture found here:

COMING SOON

If you like this activity, check out our Unit Activity Bundle that includes activities for all of the objectives in this unit.

COMING SOON

Best of all, this activity aligns to our "Unit 2.7 - Natural Market Adjustments" video lecture, which can be found here:

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Flip your classroom and the way your students learn economics TODAY!
Total Pages
20 pages
Answer Key
Included
Teaching Duration
90 minutes
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