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By Sanjay Rode

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If we join the two points a and b separately, then AD curve can be derived. 2 Shifts of aggregate demand curve Aggregate demand curve shifts towards the right, if there is expansionary fiscal policy. 15, the expansionary fiscal policy has positive effects on aggregate demand. The expansionary fiscal policy leads to increase in income with large increase in the interest rate. The downward sloping supply curve is the aggregate demand curve. Please click the advert Is your recruitment website still missing a piece?

This suggests that when the current labor income goes up by $100 in the aggregation estimates of average expected labor income rise by dollar twenty five. 11) is shown in the figure. It shows the consumption against the labor income. The intercept of the consumption income function is set by the level of asset a. 4 shows a constraint consumption income ratio trend as the economy grows. Thus constancy of the trends c/y ratio can be derived from the Ando-Modigliani function as follows. 19) The Ando-Modigliani model of consumption behavior explains all three of the observed consumption phenomena that is 1.

5. Recognizable All people easily recognize and identify money and use money at the time of need. Even small children can easily identify money. Money is used in regular transactions all over the world. 6. Scarcity Money is scarce and it is not easily available. In order to get the money, person has to take debt, borrow or work for it. Farmers have to produce commodities in their farm. Industries must do the business. Money cannot be transferred easily from one person to another. The scarcity factor forces money to be used wisely because it has alternative uses.

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