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What does the value of RU,the scale factor,tell us?
Aggregate Supply Curve
A graphical representation showing the relationship between the total quantity of goods and services that producers in an economy are willing to supply at a given overall price level in a given time period.
Unemployed Resources
Factors of production that are not currently being used to their full potential.
Production Possibilities Frontier
A curve depicting the maximum feasible amounts of two different goods that can be produced with available resources and technology.
Aggregate Supply Curve
A graphical representation showing the total supply of goods and services that firms in an economy are willing and able to produce at different price levels.
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