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Potential output

Krugman AP Macroeconomics Module 18

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Economics
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economics
macroeconomics
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demand
Aggregate supply
inflation
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Supply and demand
supply
Long run and short run
Potential output
Labour economics
Labor
behavior
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Module 18: Aggregate Supply -How the aggregate supply curve illustrates the relationship between the aggregate price level and the quantity of aggregate output supplied in the economy -What factors can shift the aggregate supply curve -Why the aggregate supply curve is different in the short run from in the long run ? Aggregate Supply Aggregate Supply Curve: relationship between the aggregate price level and the quantity of aggregate output supplied in the economy The Short-Run Aggregate Supply Curve: relationship between the aggregate price level and the quantity of aggregate output supplied that exists in the short run Rise in the aggregate price level = rise in the quantity of aggregate output supplied
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