Economics (MindTap Course List)
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Economics (MindTap Course List)
What does the aggregate supply curve look like in the simple Keynesian model?
The shape of aggregate supply curve under Keynesian economics.
The aggregate supply curve is the summation of all the individual supply curves of the economy at various price levels. Thus, it is the total supply curve of the economy. According to the classical economists, the aggregate supply curve is upward sloping curve from the origin and the aggregate demand curve is downward sloping curve. However, this assumption was rejected by Keynes...
Chapter 10 Solutions
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