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AD-AS ANALYSIS: An economic model relating the price level and real production that is used to analyze business cycles, gross domestic product, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The AS-AD model, inspired by the standard market model, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers).
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AGGREGATE SUPPLY The total (or aggregate) real production of final goods and services available in the domestic economy at a range of price levels, during a given time period. Aggregate supply, usually abbreviated AS, is two different relations between price level and real production--long run and short run. With long-run aggregate supply, prices and wages are flexible and all markets are in equilibrium. With short-run aggregate supply some prices and wage are NOT flexible and some markets are NOT in equilibrium. This is one half of the AS-AD (aggregate market) analysis. The other half is aggregate demand.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time at a garage sale looking to buy either looseleaf notebook paper or a three-hole paper punch. Be on the lookout for vindictive digital clocks with revenge on their minds.
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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"Wise men speak because they have something to say; Fools because they have to say something. " -- Plato, philosopher
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APR
Annual Percentage Rate
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