ASSOCIATION OF SOUTHEAST ASIAN NATIONS: The Association of Southeast Asian Nations (ASEAN) is a subregional organization established in 1967 in Bangkok by the five original Member Countries: Indonesia, Malaysia, Philippines, Singapore, and Thailand. Brunei Darussalam joined in 1984, Vietnam in 1995, Laos and Myanmar in 1997, and Cambodia in 1999. The aims and purposes of the Association are to accelerate the economic growth, social progress and cultural development in the region and to promote regional peace and stability through abiding respect for justice and the rule of law.

     See also | North American Free Trade Agreement | Andean Community | Association of Southeast Asian Nations | Organization of American States |

ASSOCIATION OF SOUTHEAST ASIAN NATIONS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2019. [Accessed: August 22, 2019].

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A shock to the long-run aggregate market caused by a decrease in aggregate demand resulting in and illustrated by a leftward shift of the aggregate demand curve. A decrease in aggregate demand in the long-run aggregate market results in an increase in the price level but no change in real production. The level of real production resulting from the aggregate demand shock is full-employment real production.

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