AD - AS definitions
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Last updated 5:02 PM on 4/4/26
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6 Terms
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aggregate demand
Total demand for goods and services in the economy.
2
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Aggregate demand curve
shows the relationship between the price level and the total quantity of output that buyers plan to purchase
3
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Aggregate expenditure
the total amount of goods and services that people want to buy across the whole economy
4
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Stagflation
the combination of declining GDP (economic stagnation) and rising prices (inflation).
5
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Monetary policy
the process of setting interest rates in an effort to influence economic conditions.
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