Retiring the Short-Run Aggregate Supply Curve

Autor/in	Elwood, S. Kirk
Titel	Retiring the Short-Run Aggregate Supply Curve
Quelle	In: Journal of Economic Education, 41 (2010) 3, S.314-325 (12 Seiten)Infoseite zur Zeitschrift PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0022-0485
Schlagwörter	Economics Education; Macroeconomics; Supply and Demand; Expenditures; Productivity; Models; Undergraduate Study + Suchen Sie Ihr Suchwort? Wirtschaftskunde; Makroökonomie; Bedarfsplanung; Ausgaben; Produktivität; Analogiemodell; Grundstudium
Abstract	The author argues that the aggregate demand/aggregate supply (AD/AS) model is significantly improved--although certainly not perfected--by trimming it of the short-run aggregate supply (SRAS) curve. Problems with the SRAS curve are shown first for the AD/AS model that casts the AD curve as identifying the equilibrium level of output associated with each price level (as found in most intermediate macroeconomics textbooks). Problems are then shown for the AD/AS model in which the AD curve is more modestly assumed to capture the relationship between the price level and aggregate expenditures (as found in principles of economics textbooks). (Contains 8 notes and 4 figures.) (As Provided).
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Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2017/4/10