8. In the ADAS model, the intersection of the short -run aggregate supply curve and the aggregate...

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8. In the AD–AS model, the intersection of the short -run aggregate supply curve and the aggregate demand curve is the point of short -run macroeconomic equilibrium.

It determines the short -run equilibrium aggregate price level and the level of short -run equilibrium aggregate output.

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Essentials Of Economics

ISBN: 9781429218290

2nd Edition

Authors: Paul Krugman, Robin Wells, Kathryn Graddy

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Question Posted: Oct 03, 2024 06:02 AM

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8. In the ADAS model, the intersection of the short -run aggregate supply curve and the aggregate...

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Essentials Of Economics

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