Because the short-run aggregate supply curve is the only version of aggregate supply that can handle simultaneous
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Because the short-run aggregate supply curve is the only version of aggregate supply that can handle simultaneous changes in the price level and real output, it serves well as the core aggregate supply curve for analyzing the business cycle and economic policy. Unless stated otherwise, all references to “aggregate supply” refer to short-run aggregate supply and the short-run aggregate supply curve.
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Related Book For
Economics Principles Problems And Policies
ISBN: 9780073511443
19th Edition
Authors: Campbell Mcconnell ,Stanley Brue ,Sean Flynn
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