AS-ADAggregate Supply - Aggregate Demand (macroeconomical model)
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In this section we introduce three different types of shocks to the dynamic AS-AD model.
Typically the AS-AD diagram plots the price level against the level of GDP.
The IS-LM/aggregate Supply-Aggregate Demand (AS-AD) model, hereafter the Keynesian model for short, is the mainstream interpretation of Keynes's General Theory (see Patinkin 1982, 1990a, b).