The figure below shows the short-run aggregate supply curve of an economy.In this figure,an expansionary gap would be represented by the distance between:
Figure 10.1
Definitions:
Desired Rate of Return
The minimum percentage of gain or profit expected by an investor from an investment.
Compound Interest
Interest earning mechanism in which the calculation includes interest on the original principal and on all previously earned interest of a loan or deposit.
Present Value
Present Value is the current worth of a future sum of money or stream of cash flows given a specified rate of return.
Earnings Rate
The return on an investment or project expressed as a percentage of the cost, often used to measure profitability.
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