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Do you think Aggregate Demand-Aggregate Supply model can be used to explain the real world economic fluctuations? What are the limitations of the model? Briefly discuss.

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Samantha Balando
Samantha BalandoLv7
28 Sep 2019
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Principles of Economics
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Related questions


Most economists use the aggregate demand and aggregate supply model primarily to analyze

a. short-run fluctuations in the economy.

b. the effects of macroeconomic policy on the prices of individual goods.

c. the long-run effects of international trade policies.

d. productivity and economic growth. 

essay quistion :

1. develope a model of a market utilizing supply and demand.

what are the dominant variables or parameters ?

2. what is surplus and what is shortage ? DEMONSTRATE

3. Via the model explain the dinamic changes that can happen in a market ( give example)

4. relate tje micro economic model of supply and demand to the macro economic model of aggregate demand and aggregate supply ?

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