| Aggregate Demand and Aggregate Supply |
| Aggregate Demand Curve | Short-Run Aggregate Supply Curve | Long-Run Aggregate Supply Curve |
| Expectations | Commodity prices | Productivity |
| Wealth | Nominal wages | Physical capital |
| Size of existing capital stock | Productivity | Human capital |
| Fiscal and monetary policy | Business taxes | Technology |
| Net exports | | Quantity of resources |
| Interest rates | | |
| Investment spending | | |
| Supply and Demand |
| Demand Curve | Supply Curve |
| Income | Input prices |
| Prices of substitutes and complements | Prices of substitutes and complements in production |
| Tastes | Technology |
| Consumer expectations | Producer expectations |
| Number of consumers | Number of producers |
| Loanable Funds Market |
| Demand Curve | Supply Curve |
| Investment opportunities | Private saving behavior |
| Government borrowing | Capital inflows |
| Money Market |
| Demand Curve | Supply Curve |
| Aggregate price level | Set by the Federal Reserve |
| Real GDP | |
| Technology (related to money market) | |
| Institutions (related to money market) | |
| Foreign Exchange Market |
| Demand | Supply |
| Foreigners’ purchases of domestic | Domestic residents’ purchases of foreign |
| Goods | Goods |
| Services | Services |
| Assets | Assets |
| Note: It is the real exchange rate (adjusted for international differences in aggregate price levels) that affects imports and exports. |