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S E41: Aggregate Demand & Aggregate Supply
Think Like An Economist
The Supply Side of the Economy
In macro economics, aggregate demand is the amount of stuff that people want to buy. Just as we demand fewer apples when the price of apples is higher, we demand less stuff when the average price of stuff is higher. The total amount of stuff businesses want to produce and sell is called aggregate supply. You can use it to forecast total output, or g d p, as well as the average price level in the economy.
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