Chapter 26

Aggregate Supply

In this chapter, we provide a basis for the "Aggregate Supply Curve" in the Aggregate Supply and Demand Approach. To do this, we must revisit the distinction between the short and long run, as it applies to aggregate supply, and find it in the relationship between unemployment and inflation.

Begin the chapter

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Contents

  1. Chapter Introduction
  2. Definition
  3. Inflationary Spirals
  4. The Slope of Aggregate Supply
  5. The Surprise Principle
  6. The Macroeconomic Long and Short Run
  7. Supply-Side Shocks
  8. Where is Aggregate Supply?
  9. Inflationary Expectations
  10. Chapter Summary
Next Chapter: Applications of Aggregate Supply and Demand

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