This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is the relationship among the AD, SRAS and LRAS curves when the economy is in macroeconomic ... (Read 78 times)

fox

  • Hero Member
  • *****
  • Posts: 540
on: Jun 29, 2018
What is the relationship among the AD, SRAS and LRAS curves when the economy is in macroeconomic equilibrium?
 
  What will be an ideal response?

Question 2

What is the difference between income and wealth?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

lkanara2

  • Sr. Member
  • ****
  • Posts: 329
Reply #1 on: Jun 29, 2018
Answer to Question 1

When the economy is in long-run equilibrium, the short-run aggregate supply curve and the aggregate demand curve intersect at a point on the long-run aggregate supply curve.

Answer to Question 2

Income is a flow variable. It is the amount a household earns over a period of time such as a year. Wealth is a stock variable. It is the amount of assets a household has accumulated at a point in time from past income or through saving or inheritance.


fox

  • Member
  • Posts: 540
Reply 2 on: Jun 29, 2018
Gracias!

tkempin

  • Member
  • Posts: 332
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Structure of the ovary and uterine (fallopian) tube. Figure illustrates stages of ovum development a Structure of the ovary and uterine (fallopian) tube. Figure illustrates stages of ovum development a
Relationship of the electrocardiogram to electrical conduction in the heart Relationship of the electrocardiogram to electrical conduction in the heart
Relationship between Latitude and Income per Capita Relationship between Latitude and Income per Capita
Most elderly enjoy maintaining relationship with their grandkids Most elderly enjoy maintaining relationship with their grandkids
The relationship between the number of stem cell divisions in the lifetime of a given tissue and the The relationship between the number of stem cell divisions in the lifetime of a given tissue and the
economy manegment economy manegment
Video: Protein Secondary and Tertiary Structures - Animation

For a complete list of videos, visit our video library