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- just price
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- labor theory of value
- Laffer curve
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- large numbers, law of
- Le Chatelier principle
- learning-by-doing
- least cost location theory
- Leontief paradox
- life-cycle hypothesis
- Lindahl equilibrium
- linear programming
- loanable funds theory of the rate of interest
- long wages
- lump-of-labor theory of wages
- Lyapunov's theorem
- machinery question
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- managerial theories of the firm
- marginal efficiency of capital
- marginal productivity theory of distribution
- marginal utility theory
- market socialism
- markets, law of
- Marshall-Lerner principle
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- multiplier
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- NAIRU
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- national income
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- natural monopoly of economics
- natural rate of unemployment
- negative income tax
- neo-classical growth theory
- neo-classical theory
- neo-Ricardian theory
- new class
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- non-accelerating inflation rate of unemployment
- non-competing groups
- non-nested hypothesis
- non-profit organization
- occupation segregation
- Okun's law
- oligopoly theory
- opportunity cost
- optimal tariff theory
- option pricing theory
- organization theory
- own rate of interest
- paradox of thrift
- paradox of value
- paradox of voting
- Pareto efficiency
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- partial equilibrium theory
- peak-load pricing
- perfect competition
- permanent income hypothesis
- Phillips curve
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- portfolio selection theory
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- price discrimination
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- production, theory of
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- public choice
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- quantity theory of money
- queuing theory
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- rationing
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- Reaganomics
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- relative income hypothesis
- rent seeking
- returns to scale
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- roundabout method of production
- Rybczynski theorem
- satisficing
- Say's law
- Scitovsky paradox
- screening hypothesis
- search theory
- second best, theory of
- secular stagnation theory
- segmented labor market theory
- shadow pricing
- signalling
- Slutsky's theorem
- small is beautiful principle
- social welfare function
- Solow economic growth
- specie-flow mechanism
- St Petersburg paradox
- stationary state
- stock-flow analysis
- structure-conduct-performance theory
- substitution theory
- sunspot theory
- supply-side economics
- surplus value
- syndicalism
- tax incidence
- technological gap theory
- term structure of interest rates
- Thatcherism
- Tiebout hypothesis
- time preference theory of interest
- trade cycle
- trickle-down theory
- turnpike theory
- uncertainty
- underconsumption theory
- unemployment
- variable proportions, law of
- vent for surplus
- Verdoorn's law
- wages fund doctrine
- Wagner's law
- Walras's stability
- Weber's theory of the location of the firm
- Wicksell's theory of capital
- x-efficiency
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aggregate demand theory
(20th century)
Aggregate demand, also referred to as aggregate spending, or aggregate expenditure, is the total demand for economic output in an economy at a given price level.
Aggregate demand theory asserts that the total demand for economic output in an economy helps to determine the level of economic output and growth. The theory is developed by the English economist John Maynard Keynes (1883-1946).
According to the aggregate demand theory, economic output will be reduced if total demand and consumption decreases. Therefore, income level, for example, is a predictor of economic output.
Supply-side economics has been preferred over the aggregate demand theory after the 1980s.
Also see: aggregate demand, aggregate output, aggregate supply
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