The Aggregate Demand-Aggregate Supply (AD-AS) model is the standard tool economists use to illustrate macroeconomic phenomena ...
This paper reconstructs how Keynes managed to formally develop the concept of aggregate supply in chapter 20 of the General Theory. As a preamble, the first section recaps Don Patinkin's long struggle ...
Aggregate supply is the total value of goods or services in a market, sector or economy. Aggregate supply is used to show the amount of goods that can be produced at different price levels in a given ...
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