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Summary AS-AD Equilibrium in Short, Medium Run

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AS-AD Equilibrium in Short, Medium Run

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AS-AD Equilibrium in Short, Medium Run
short run - behaves simply, equilibrium at intersection of 2 curves

natural level of output (Yn) doesn't come into play in short run
equilibrium at instantaneous intersection of AS and AD relations

medium run - shift back to natural level of production

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Institution: Seneca College of Applied Arts and Technology ( )
Study: Business
Module: Economics

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Uploaded on: May 2, 2022
Number of pages: 2
Written in: 2022/2023
Type: SUMMARY

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economy
economics
macroeconomics
as ad equilibrium
summary

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Summary AS-AD Equilibrium in Short, Medium Run

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Summary AS-AD Equilibrium in Short, Medium Run

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More courses for Seneca College of Applied Arts and Technology ( ) > Business

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