The aggregate supply curve is a concept in macroeconomics that, with the addition of the aggregate demand curve, shows the equilibrium level of prices and quantity in an economy. It is also used to ...

In economics, the consumer surplus is the satisfaction a consumer receives when purchasing a good or service. Graphically, it is depicted as the triangle-shaped area formed by the aggregate demand ...

Simulations using a Phillips curve-type relationship provide insights into the importance of demand versus supply for inflation over different periods. The decade of low inflation after the Great ...