Aggregate Supply Curve | Theory, Graph & Formula
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Study.comShawn Grimsley
Aggregate Supply Curve | Theory, Graph & Formula
Study aggregate supply curves in economics. Learn about short-run and long-run aggregate supply curves, each curve's slope, and what factors cause these to shift.
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Law of supply Economic Definition
📖 Definition Goodhart’s Law: “When a measure becomes a target, it ceases to be a good measure.” Coined by Charles Goodhart, a British economist, in 1975 while discussing monetary policy. He noticed that once governments set a metric (like money supply growth) as a target, people’s behavior changed in ways that made the metric unreliable. 🔎 Core Idea Metrics are not reality. They’re only proxies for something we care about. Once people are judged, rewarded, or punished by a metric, they will op
📖 Definition Goodhart’s Law: “When a measure becomes a target, it ceases to be a good measure.” Coined by Charles Goodhart, a British economist, in 1975 while discussing monetary policy. He noticed that once governments set a metric (like money supply growth) as a target, people’s behavior changed in ways that made the metric unreliable. 🔎 Core Idea Metrics are not reality. They’re only proxies for something we care about. Once people are judged, rewarded, or punished by a metric, they will op
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