Unit 3.2(1): Variations in economic activity - aggregate demand (AD)

IB Economics: Unit 3.2(1): Variations in economic activity - aggregate demand (AD)

The level of economic activity measured by the real GDP of a country is determined by the interaction of aggregate demand and aggregate supply of the whole economy. Changes in aggregate demand and aggregate supply determine the rate of economic growth an economy achieves. An understanding of aggregate demand and supply is crucial to understanding how the macroeconomy functions.The link to the attached pdf is revision...


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