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KEYNESIAN RANGE: The horizontal segment of the Keynesian aggregate supply curve that reflects rigid prices and wages. Shifts of the aggregate demand curve in this range lead to changes in the aggregate output, but not changes in price level. Such results are consistent with Keynesian economics, which is why this is termed the "classical" range. The other ranges of the Keynesian aggregate supply curve are the classical range and the intermediate range.

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CONSUMER PRICE INDEX FOR ALL URBAN CONSUMERS: This is the official name and designation for the Consumer Price Index that's commonly reported in the media. It is officially abbreviated CPI-U. Because it is THE standard, it usually goes by the shorted abbreviation CPI. The CPI-U was introduced in 1978 by the Bureau of Labor Statistics to address some of the deficiencies in the existing consumer price index, which now has the designation of CPI-W. In particular, the newer CPI-U includes the prices of goods and services purchased by about 80% of the non-institutionalized population while the older CPI-W includes about only 32 percent (see ).

     See also | Consumer Price Index | price level | index | consumer | Bureau of Labor Statistics | inflation | nominal | real | wage | income | Social Security | GDP price deflator | Producer Price Index | Consumer Price Index for Urban Wage Earners and Clerical Workers | civilian labor force |


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CONSUMER PRICE INDEX FOR ALL URBAN CONSUMERS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 1, 2025].


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INFLATIONARY EXPECTATIONS, AGGREGATE DEMAND DETERMINANT

One of several specific aggregate demand determinants assumed constant when the aggregate demand curve is constructed, and that shifts the aggregate demand curve when it changes. An increase in the inflationary expectations causes an increase (rightward shift) of the aggregate curve. A decrease in the inflationary expectations causes a decrease (leftward shift) of the aggregate curve. Other notable aggregate demand determinants include interest rates, federal deficit, and the money supply.

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During the American Revolution, the price of corn rose 10,000 percent, the price of wheat 14,000 percent, the price of flour 15,000 percent, and the price of beef 33,000 percent.
"Experience keeps a dear school, but fools will learn in no other. "

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