INTERMEDIATE RANGE: The positively-sloped segment of the Keynesian aggregate supply curve that reflects the trade-off between aggregate output and the price level. Shifts of the aggregate demand curve in this range lead to changes in both aggregate output and the in price level. The intermediate range is consistent with the modern view of a positively sloped short-run aggregate supply curve. The other ranges of the Keynesian aggregate supply curve are the Keynesian range and the classical range. See also | Keynesian aggregate supply curve | Keynesian economics | aggregate output | price level | short-run aggregate supply curve | Keynesian range | classical range | gross domestic product |
