Index
A
Absolute advantage, 14
Aggregate demand
composition, 97
definition, 96
Aggregate demand and aggregate supply (ADAS) model, 209–210
Aggregate demand curve
ceteris paribus assumption, 97–98
definition, 96
factors
demographics, 103
exchange rates, 102–103
expectations, 101–102
foreign economic conditions, 102
government policy, 101
income distribution, 103
wealth, 101
slope
foreign trade effect, 99–100
real interest rate effect, 98–99
wealth effect, 98
Aggregate production function, 221
Aggregate supply, 104
Aggregate supply curve
definition, 104
long run, 104
short run, 104
Allocative efficiency, 12
American Recovery and Reinvestment Act, 218
Automatic stabilizers
assessment, 149–150
expenditure multiplier revisited, 150–153
in recession, ...
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