As the price level falls, real production also declines. As the price level rises, real production is greater. The short-run aggregate supply curve captures the relation between real production and the price level. The positive slope of the SRAS curve captures the direct relation between real production and the price level that exists in the short run. The demand-side of the aggregate market is occupied by the aggregate demand curve.
The other is the long-run aggregate supply curve (LRAS). The short-run aggregate supply, or SRAS, curve is one of two curves that graphical capture the supply-side of the aggregate market. SHORT-RUN AGGREGATE SUPPLY CURVE: A graphical representation of the short-run relation between real production and the price level, holding all ceteris paribus aggregate supply determinants constant. Rental income of persons is typically the smallest of the five factor payment categories, usually less than 5% of national income. The other four are compensation of employees, net interest, corporate profits, and proprietors' income. This is one of five official factor payments making up national income. RENTAL INCOME OF PERSONS: The official item in the National Income and Product Accounts maintained by the Bureau of Economic Analysis measuring rent earned by the household sector for supplying land and related services. AmosWEB means Economics with a Touch of Whimsy!
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