Respuesta :
The economy is in a short run equilibrium, but not necessarily a long run equilibrium, at the point where the short run aggregate supply curve and the aggregate demand curve connect.
What is short-run and long run equilibrium?
When total output and total demand are equal, the situation is said to be in a short-run equilibrium. The market has altered, and prices have adjusted, when the economy is working at its full potential and prices are in a long-run equilibrium.
What is the relationship between aggregate demand curve and aggregate supply curve?
A model that demonstrates how total supply and total demand interact at the macroeconomic level is the aggregate demand/aggregate supply model, which also explains how total supply and total demand are determined for the economy. In other words, the real GDP, aggregate supply is the total amount of output that businesses will generate and sell.
What is the difference between the short-run aggregate supply curve and the long run aggregate supply curve?
The supply in the near term or over a period of fixed capital is depicted by short-run aggregate supply curves. The supply in the long run, with all inputs being variable, is depicted by long-run aggregate supply curves. Total production within an economy and price level are two factors that affect aggregate supply.
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