Deflationary And Inflationary Gaps
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Deflationary and inflationary gaps
Deflationary and inflationary gaps
The deflationary gap
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O
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Unemployment and inflation
Unemployment and inflation
Price level
AS1
O
YF
Y
Unemployment and inflation
Price level
AS2 AS1
O
YF
Y
Deflationary and inflationary gaps
Effects of increases in aggregate demand on national output
The effects of increases in aggregate demand on national output
Price level
AS
O
YP
National output
The effects of increases in aggregate demand on national output
Price level
AS
AD4
AD2
AD1 O
Y1
Y2
AD3
Y3
National output
Y4
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