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Aggregate Supply

What is 'Aggregate Supply'?

❶In the graph below, we show the standard aggregate expenditures curve at three different price levels. All consumer goods , capital goods , exports, imports and government spending programs are considered equal so long as they traded at the same market value.

What is 'Aggregate Demand'

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BREAKING DOWN 'Aggregate Demand'
BREAKING DOWN 'Aggregate Supply'

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Determinants of Aggregate Supply. Changes in labor force: Anything that causes the amount of workers to increase in an economy will cause aggregate supply to increase or shift to the right. If the labor force decreases, the overall supply of .

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Start studying Determinants of Aggregate Demand and Supply. Learn vocabulary, terms, and more with flashcards, games, and other study tools.

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Ch Aggregate Demand and Aggregate Supply. STUDY. PLAY. Aggregate demand-aggregate supply model. Determinants of aggregate demand. Factors such as consumption spending, investment, government spending, and net exports that, if they change, shift the aggregate demand curve. What are Determinants of Supply? Definition: Determinants of supply are factors that may cause changes in or affect the supply of a product in the market place. What Does Determinants of Supply Mean? These factors include: 1. Production technology: an improvement of production technology increases the output. This lowers the .

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Aggregate supply, also known as total output, is the total supply of goods and services produced within an economy at a given overall price level in a given period. It is represented by the aggregate supply curve, which describes the relationship between price levels and the quantity of output that firms are willing to provide. Learn about aggregate supply in the short run (SRAS) and what that really means. Definition and Determinants The Phillips Curve in the Short Run: Economic Behavior Aggregate Supply and.