LONG-RUN AGGREGATE SUPPLY: The total (or aggregate) real production of final goods and services available in the domestic economy at a range of price levels, during a period of time in which all prices, especially wages, are flexible, and have achieved their equilibrium levels. Long-run aggregate supply (LRAS) is one of two aggregate supply alternatives, distinguished by the degree of price flexibility; the other is short-run aggregate supply (SRAS).

     See also | aggregate market | long-run aggregate market | full employment | price level | real production | flexible prices | aggregate demand | short-run aggregate supply | economic growth | business cycles | unemployment | inflation |

LONG-RUN AGGREGATE SUPPLY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: July 4, 2022].

Additional information on this term can be found at:

WEB*pedia: long-run aggregate supply

Back to the GLOSS*arama

The combination of vault cash and Federal Reserve deposits that banks can legally use to satisfy government reserve requirements. Legal reserves, which can also be considered total reserves, are divided between require reserves and excess reserves. Required reserves are used to back up deposits and process daily transactions, while excess reserves are then available for interest-paying loans.

Complete Entry | Visit the WEB*pedia

Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors looking to buy either storage boxes for your winter clothes or several magazines on time travel. Be on the lookout for letters from the Internal Revenue Service.
Your Complete Scope

This isn't me! What am I?

-- Ann Landers, columnist

User Feedback