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Economics AS (Macroeconomics) > Aggregate Supply > Flashcards

Flashcards in Aggregate Supply Deck (2)
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1
Q

Define aggregate supply?

A

The total amount that producers in an economy are willing and able to supply at a given price level, in a given period of time.

2
Q

What causes a shift in AS?

A

Shifts in AS are due to changes in the Quantity and/or quality of factors of production