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Aggregate Supply: A Further Look

In: Output, Inflation and Growth

Author

Listed:
  • D. C. Rowan

    (University of Southampton
    University of New South Wales)

Abstract

In the last chapter, we constructed the aggregate supply schedule on the assumptions that: (a) businesses aimed to maximise profits (b) the market system was one of ‘pure competition’ (c) a short-run production function existed, while both the stock of real capital (K) and the money wage rate (W) were given: the former as the result of history, the latter as the result of a bargaining process yet to be discussed in any detail

Suggested Citation

  • D. C. Rowan, 1983. "Aggregate Supply: A Further Look," Palgrave Macmillan Books, in: Output, Inflation and Growth, edition 0, chapter 0, pages 281-290, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-06800-5_17
    DOI: 10.1007/978-1-349-06800-5_17
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