ad-as model wikipedia - EAS
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The AD–AS or aggregate demand–aggregate supply model is a macroeconomic model that explains price level and output through the relationship of aggregate demand (AD) and aggregate supply (AS). It is based on the theory of John Maynard Keynes presented in his work The General Theory … See more
The AD/AS model is used to illustrate the Keynesian model of the business cycle. Movements of the two curves can be used to predict the effects that various exogenous events will have on two variables: real See more
The slope of the AD curve reflects the extent to which real balances (i.e., the real value of the money balances held by an individual or by the … See more
The aggregate supply curve (AS curve) describes the quantity of output the firms plan to supply for each given price level.
The Keynesian … See moreThe following summarizes the exogenous events that could shift the aggregate supply or aggregate demand curve to the right. Exogenous events happening in the opposite direction would shift the relevant curve in the opposite direction.
Shifts of aggregate … See moreAn increase in the nominal money stock leads to a higher real money stock at each level of prices. In the asset market, the decrease in interest rates induces the public to hold higher … See more
Keynesian Case: If there is a fiscal expansion i.e. there is an increase in the government spending or a cut in the taxes, it will shift the AD curve rightwards. The shift would then imply an increase in the equilibrium output and employment.
In the Classical … See moreWikipedia text under CC-BY-SA license To For Sale Near You
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