Difference between revisions of "Aggregate demand"
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==Aggregate Demand Curve== | ==Aggregate Demand Curve== | ||
| − | Aggregate demand represented by the '''Aggregate demand curve'''. The aggregate demand curve looks similar to a regular demand curve, | + | Aggregate demand is represented by the '''Aggregate demand curve'''. The aggregate demand curve looks similar to a regular demand curve, however the Y-axis represents '''price level''', and the X-axis represents '''real output'''. |
==References== | ==References== | ||
Revision as of 03:14, December 12, 2008
Aggregate Demand is the total amount of goods and services, or Gross domestic product demanded by consumers at a given price level.[1]
Aggregate Demand Curve
Aggregate demand is represented by the Aggregate demand curve. The aggregate demand curve looks similar to a regular demand curve, however the Y-axis represents price level, and the X-axis represents real output.