Aggregate supply, also known as total output, represents the total amount of goods and services that firms in a national economy are willing to sell during a specific time period at different price levels.
New Economics refers to revisions of Keynesian Economics that emerged in the 1970s, aimed at addressing economic issues inadequately managed by traditional Keynesian approaches.
Reaganomics is a term used to describe the conservative, free-market economic policies endorsed by President Ronald Reagan and his administration during his time in office from 1981 to 1989.
Supply-Side Economics is a theory of economics contending that drastic reductions in tax rates will stimulate productive investment by corporations and wealthy individuals, ultimately benefiting the entire society. This theory was championed in the late 1970s by Professor Arthur Laffer.
The Trickle Down Theory is an economic concept suggesting that policies benefiting the wealthy and businesses can ultimately benefit lower-income individuals through increased economic activity.
