What is Intermediate-range Economics?

Question

Erin · Accepted Answer

This is the positively-sloped segment of the Keynesian aggregate supply curve that reflects the trade-off between aggregate output and the price level. A shift in the aggregate demand curve in this range leads to changes in both aggregate output and the price level.
In the Intermediate-Range, output levels that are below full employment, but not so far below as to constitute a deep recession or depression. In this range, increasing output is possible, but only at the expense of rising prices.

What is Intermediate-range Economics?

Unlock this answer

Unlock this answer