Keynes’ Law and Say’s Law in the AD/AS model

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2023-03-14 19:27:23 -

Key points The short-run aggregate supply, or SRAS, curve can be divided into three zones—the horizontal Keynesian zone, the vertical neoclassical zone, and the upward sloping intermediate zone in between the Keynesian and neoclassical zones. Keynes’ Law states that demand creates its own supply; changes in aggregate demand cause changes in real GDP and...

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