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Aggregate Supply
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Aggregate Supply
Definition: The total amount of goods and services(real gdp) that produces in different price levels.
The Short Run Aggregate Supply Curve
- Short Run Definition: resources and wages will not increase as the price increase
- SRA has an inflexible aggregate price level and has sticky wages
- Sticky wages do not increase or decrease, just stay the same amount. Which it's sort of a negative thing because it's slow and not catching up with the economy
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- Mind Map on Aggregate Supply, created by Samuel Sauceda on 17/04/2018.
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- Samuel Sauceda
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