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SHORT-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 some prices, especially wages, are rigid, inflexible, or otherwise in the process of adjusting. Short-run aggregate supply (SRAS) is one of two aggregate supply alternatives, distinguished by the degree of price flexibility; the other is long-run aggregate supply. Short-run aggregate supply is combined with aggregate demand in the short-run aggregate market analysis used to analyze business-cycle instability, unemployment, inflation, government stabilization policies, and related macroeconomic topics. See also | short-run aggregate market | inflexible prices | price level | real production | short run | short-run equilibrium | full employment | business cycles | aggregate output | unemployment | inflation | stabilization policies | long-run aggregate supply | ![](../images/aw_sm.gif) Recommended Citation:SHORT-RUN AGGREGATE SUPPLY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: July 26, 2024]. AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: short-run aggregate supply
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