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9 Nov 2021
Problem 33
Page 600
Section: REVIEW QUESTIONS
Chapter 24: The Aggregate Demand/Aggregate Supply Model
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9 Nov 2021
Introduction
The aggregate demand-aggregate supply model, also known as the AD/AS model, is a graphical description of the link between GDP and price fluctuations. The vertical axis in the AD/AS model indicates "Price level" or "PL," while the horizontal axis represents "real GDP."
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