 | Learning Objectives
(See related pages)
In this chapter you will learn:
- About aggregate demand (AD) and the factors that cause it to change.
- About aggregate supply (AS) and the factors that cause it to change.
- How AD and AS determine an economy's equilibrium price level and level of real GDP.
- How the AD-AS model explains periods of demand-pull inflation, cost-push inflation, and recession.
|
|