AGGREGATE SUPPLY CURVE: A graphical representation of the relation between real production and the price level, holding all ceteris paribus aggregate supply determinants constant. There are actually two separate aggregate supply curves, one for the long run and one for the short run. These aggregate supply curves are one side of the graphical presentation of the aggregate market. The other side is occupied by the aggregate demand curve. See also | aggregate supply | aggregate market | aggregate demand curve | aggregate expenditures | real production | price level | ceteris paribus | aggregate supply determinants |
