|
|
KEYNESIAN AGGREGATE SUPPLY CURVE: A modification of the standard aggregate supply curve used in the aggregate market (or AD-AD) analysis to reflect the basic assumptions of Keynesian economics. The Keynesian aggregate supply curve contains either two or three segments. The strict Keynesian aggregate supply curve contains two segments, a vertical classical range and a horizontal Keynesian range, meeting a right angle and forming a reverse L-shape. An alternative version replaces the right angle intersection with a gradual transition between the two segments that is positively sloped and termed the intermediate range. The modern aggregate supply curve is largely based on this intermediate range.
Visit the GLOSS*arama
|
|

|
|
|
AGGREGATE DEMAND DECREASE, SHORT-RUN AGGREGATE MARKET A shock to the short-run aggregate market caused by a decrease in aggregate demand, resulting in and illustrated by a leftward shift of the aggregate demand curve. A decrease in aggregate demand in the short-run aggregate market results in a decrease in the price level and a decrease in real production. The level of real production resulting from the shock can be greater or less than full-employment real production.
Complete Entry | Visit the WEB*pedia |


|
|
GRAY SKITTERY [What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store trying to buy either a how-to book on home decorating or a set of luggage with wheels. Be on the lookout for bottles of barbeque sauce that act TOO innocent. Your Complete Scope
This isn't me! What am I?
|
|
|
The average length of a "business lunch" is about 36 minutes.
|
|
|
"The man who does not read good books has no advantage over the man who cannot read them. " -- Mark Twain
|
|
NAIRU Non-Accelerating Inflation Rate of Unemployment
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|

|