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AD-AS MODEL: An economic model relating the price level and real production that is used to analyze business cycles, gross domestic product, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The AS-AD model, inspired by the standard market model, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers).
Visit the GLOSS*arama
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"The greatest things ever done on Earth have been done little by little. " -- William Jennings Bryan
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MPI
Marginal Propensity to Invest
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