To give you a sense of where I am in my understanding of economics, I've just learned about long-run aggregate supply in the neoclassical/monetarist view as a vertical curve. It occurred to me why doesn't the same thing that happens to SRAS happen to aggregate demand over the long run - I'm envisioning that prices adjust in the long-run such that prices have no effect on anything; whether supply, demand, or anything else to do with purchasing habits. By the same reasoning as for aggregate supply, it seems like aggregate demand in the long run is also a graphically a vertical line. In the long run, where wages can adjust to match prices, people will continue buying the same quantity demanded as before just with a higher price level, right?
But I'm assuming, from what I've seen, that we don't differentiate between aggregate demand in the long and short run. What knowledge am I missing?
I'm in SL IB economics and we've just reached macro. I also have a shallow understanding of the Keynesian AS curve.