The model of aggregate demand and aggregate supply is different from the model of supply and demand for a particular market, in that we cannot focus on the substitution of resources between markets to explain aggregate relationships. is different from the model of supply and demand for a particular market, in that we have to separate real and nominal variables in the aggregate model. is a straightforward extension of the model of supply and demand for a particular market, in which substitution of resources between markets is highlighted. is a straightforward extension of the model of supply and demand for a particular market, in which the interaction between real and nominal variables is highlighted.
The model of aggregate demand and
is different from the model of
is different from the model of supply and demand for a particular market, in that we have to separate real and nominal variables in the aggregate model.
is a straightforward extension of the model of supply and demand for a particular market, in which substitution of resources between markets is highlighted.
is a straightforward extension of the model of supply and demand for a particular market, in which the interaction between real and nominal variables is highlighted.
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