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3.4 Long-Run Aggregate Supply (LRAS)

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Long-run Aggregate Supply

Although we’ve been talking about the short-run aggregate supply, we haven’t exactly defined what short-term and long-term are. In macroeconomics, the short run and the long run represent different periods in which economic variables adjust to changes in the economy, particularly with respect to prices, wages, and output

In this unit

9 lessons

  1. 3.1Aggregate Demand (AD)Preview lesson
  2. 3.2MultipliersPreview lesson
  3. 3.3Short-Run Aggregate Supply (SRAS)Preview lesson
  4. 3.4Long-Run Aggregate Supply (LRAS)This lesson
  5. 3.5Equilibrium in the AD–AS ModelPreview lesson
  6. 3.6Changes in the AD-AS ModelPreview lesson
  7. 3.7Long-Run Self-AdjustmentPreview lesson
  8. 3.8Fiscal PolicyPreview lesson
  9. 3.9Automatic StabilizersPreview lesson

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