How Could We Transform the AD-AS Model Such That, Instead

question 172

Essay

How could we transform the AD-AS model such that, instead of the price level and output it would show the relationship between the inflation rate (ð) and the rate of output growth (g)?

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Definitions:

Key Site

typically refers to a crucial location or venue significant for a specific event, study, or phenomenon, often carrying symbolic or strategic importance.

Giorgio Agamben

An Italian philosopher known for his work on the concept of the state of exception, biopolitics, and the relation between life and law.

State Expansion

This refers to the process by which the modern state increases its responsibilities, functions, and influence over society.

C. Wright Mills

An American sociologist known for his work on social structure and power dynamics, particularly the concept of the sociological imagination.