aggregate demand

The total amount of goods and services demanded in the economy at a given overall price level and in a given time period. It is represented by the aggregate-demand curve, which describes the relationship between price levels and the quantity of output that firms are willing to provide. Normally...

Description In macroeconomics, aggregate demand (AD) is the total demand for final goods and services in the economy (Y) at a given time and price level. 12 SHORT-RUN ECONOMIC FLUCTUATIONS Aggregate Demand and Aggregate Supply Copyright © 2004 South-Western 33 Short-Run Economic...