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2015-4-2 According to Keynesian macroeconomic theory, gross domestic product (GDP) is a way to measure a nation's production. Aggregate demand takes GDP and shows how it relates to price levels. Quantitatively, aggregate demand and GDP are exactly the same. A Keynesian economist might point out that GDP only ...
2005-1-16 BREAKING DOWN 'Aggregate Supply' Rising prices are typically an indicator that businesses should expand production to meet a higher level of aggregate demand.When demand increases amid constant supply, consumers compete for the goods available and, therefore, pay higher prices.