long-run aggregate supply (LRAS)
a curve that shows the relationship between price level and real GDP that would be supplied if all prices, including nominal wages, were fully flexible ; price can change along the LRAS, but output cannot because that output reflects the full employment output.
Videolar
9 июл. 2024 г. · The long-run aggregate supply (AS) curve represents the relationship between the total quantity of goods and services that firms in an economy ... |
13 окт. 2024 г. · Long run aggregate supply (LRAS) is influenced by a change in the productive capacity of the economy. |
Long-run aggregate supply refers to the total amount of production in an economy given that its full resources are employed. Test your knowledge with... · LRAS Curve · LRAS Shift |
19 мар. 2024 г. · Factors that Shift the LRAS. Classical economists believe that the long-run aggregate supply (LRAS) can increase in the long-run. |
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