InstructorsStudentsReviewersAuthorsBooksellers Contact Us
image
  DisciplineHome
 TextbookHome
 
 
 
 
 
 
 
 
 ResourceHome
 
 Bookstore
Textbook Site for:
Economics , Fifth Edition
William Boyes, Arizona State University
Michael Melvin, Arizona State University
Glossary
Chapter 9: Macroeconomic Equilibrium: Aggregate Demand and Supply



aggregate demand curve  a curve that shows the different equilibrium levels of expenditures at different price levels
aggregate supply curve  a curve that shows the amount of production at different price levels
cost-push inflation  inflation caused by rising costs of production
demand-pull inflation  inflation caused by increasing demand for output
interest rate effect  a change in interest rates that causes investment and therefore aggregate expenditures to change as the level of prices changes
international trade effect  the change in aggregate expenditures resulting from a change in the domestic price level that changes the price of domestic goods in relation to foreign goods
long-run aggregate supply curve (LRAS)  a vertical line at the potential level of GDP
wealth effect  a change in the real value of wealth that causes spending to change when the price level changes


BORDER=0
Site Map I Partners I Press Releases I Company Home I Contact Us
Copyright Houghton Mifflin Company. All Rights Reserved.
Terms and Conditions of Use, Privacy Statement, and Trademark Information
BORDER="0"