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Jason McDonald
on Nov 16, 2024

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The explanations for the slopes of the aggregate demand and short-run aggregate supply curves are the same as the explanations for the slopes of demand and supply curves for specific goods and services.

Aggregate Demand

Collective appetite for goods and services in an economic system, pegged at a particular comprehensive price level for a fixed time frame.

Short-Run Aggregate Supply

The total output of goods and services that firms in an economy are willing to produce at different price levels in the short term, holding some input prices fixed.

  • Absorb the principles that dictate the configurations of the aggregate demand and aggregate supply curves.
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Ralph LaurenceNov 18, 2024
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