27Chp22-Econ3310

27Chp22-Econ3310 - Aggregate Supply Equilibrium Analysis 4....

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Unformatted text preview: Aggregate Supply Equilibrium Analysis 4. Speed of adjustment depends on price stickiness 3. Shift in short run aggregate supply affects output and price only in the short run and has no effect in the long run 2. Shifts in aggregate demand affects only price level in the long run 1. Shift in aggregate demand affects output only in the short run and has no effect in the long run Conclusions from AD/AS Aggregate Demand ...
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