Long-run aggregate supply | Aggregate demand and aggregate supply | Macroeconomics | Khan Academy

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Thinking about why aggregate supply may not be influenced by prices in the long-run
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[@adinarayn]

Mr. Khan, you are not only an absolute GENIUS (teaching nearly everything on your site) but you are a LIFE-SAVER!!!

[@monjosiebrown1688]

makes life in school so easier and learning more interesting

[@reginapapadopoulou4611]

your videos are very helpful and easy to understand!thank you so much! greetings from Greece

[@Doodsome]

wow thanks a ton for this one. It pretty much enhances my guess on your last video where I was trying to grasp the ceteris paribus concept for myself.
I am 100% autodidactic on economy and, dude, you are my guru. Big respect. Keep on doing your thing. I would pay you for tutoring, but who needs tutoring when you explain it so well in these videos.
Can't wait for the next one!

[@thomasenriquez9484]

a WAR may happen and people would d- ... bad things would happen

[@illuminari]

Have a uni Econ exam tomorrow, you're a life saver!!!!

[@njun9951]

It is strange that the independent variable for both aggregate demand and aggregate supply is on the x axis and that the dependent is on the y.
Is this always the case in economics? Is there a good reason for it or just convention?

[@sowhat2817]

You are the best! God bless you

[@vivid098761]

My savior of final exam!!

[@alyssacanales8610]

Thank you!!!

[@v.c.4861]

Thank you so much :)

[@jackholmes4889]

does this apply to AQA economics for A-Level?

[@CurtisGproductions]

aggregate means total, so the total supply of the whole economy. just supply, means supply in one market. e.g. supply of apples

[@tanmayvij7191]

I loved the comment at 1:25! Nailed it ❤

[@Thegamemakur]

Thank you!

[@Worchestershire]

Role model of the decade

[@aliyanrizwan5808]

is thist he keyneasian or classic version

[@JesserKermitWest]

what is the difference between supply and aggregate supply?

[@warningjoeter]

sounds like thomas sowell

[@mrhooberbloob007]

keynesian LRAS is the same idea as the classical LRAS. however, keynes said that we are all dead in the long run

[@LaureanoLuna]

Let me ask why. Why do you think the production level in the long run is still dependent on prices?

[@Ar91-]

Nice

[@marshmalloney]

cool

[@ashtongoff1788]

why are you such a better teacher than my idiot macro teacher that I'm paying to listen to?

[@andrewkim2013]

then don't pay for your teacher

[@jillbennett7270]

Is the P on the Y axis price level?

[@furkanki]

Jillienne Bennett yes it is

[@nathaliaduncan9453]

Hey Khan, is the natural rate of unemployment the same thing as the NAIRU?

[@ridwanrahman6908]

No

[@AR-dl5oq]

yup...both are same
in 1975 natural rate of unemployment was termed as NAIRU ...

[@puspenduchoudhury5006]

No idiot

[@ScottishLibertyPodcast]

why isn't there more production if prices are higher?

[@JoeMacaleita]

prices are not a function of output in this particular model

[@AR15ORIGINAL]

Isn't it sometimes irrational to consider economic agents perfectly rational like this?

[@akmedia8206]

Yes that’s why the Keynesian lras exists

[@pepper6270]

i really love how in sometimes where he talks and you hear his saliva in his mouth, for me that makes to content and information so juicy that he is actually hungry xd

[@TFrills]

he was only giving a theoretical position

[@nguyenthithaiha5388]

You speak quite fast

[@shockoo]

The last statement of this video...is false. If you are watching these videos in order to pass an exam in that Economics course that you are required to take...by all means, continue viewing. If you are studying Economics as a subject you enjoy and potentially want to pursue a career in, look elsewhere.

[@Jans13m]

You're making the assumption that long-run aggregate supply is completely inelastic and all resources are being utilised fully and, lets face it - that's just unrealistic. I think you should have also talked about the Keynesian model where you can reach equilibrium when resources are not used to the full extent, which they never will be.

[@osamabinkhalid8723]

ZM Modern day economists do make that assumption. Unlike Keynesian economists. You can refer to the video on Keynesian aggregate supply

[@theOman333]

He's a Neo classist gasp! Jk