Save
...
Theme 2
2.3: Aggregate Supply
2.3.1: Characteristics of AS
Save
Share
Learn
Content
Leaderboard
Learn
Created by
Kendrick Lamar
Visit profile
Cards (5)
Aggregate
supply shows quantity of
real GDP
which is supplied at different
price
levels
Short run
: When at least one factor of production is
fixed
Long run: When all factors of
production
are
variable
SRAS only covers the period
immediately
after a change in
price
level
LRAS shows the
potential
supply of an economy in the
long
run