3 concepts
Macroeconomic Equilibrium
In economics, the macroeconomic equilibrium is a state where aggregate supply equals aggregate demand.
Reasons for and Consequences of Shift in Aggregate Demand
A short-run shift in aggregate demand can change the equilibrium price and output level.
Reasons for and Consequences of Shift in Aggregate Supply
In economics, the aggregate supply shifts and shows how much output is supplied by firms at different price levels.