Final answer:
The AD/AS model is an economic model used to illustrate the interlocking relationships between the macroeconomic goals of economic growth, unemployment, and low inflation. It is considered theoretical since it is a simplified version of the real economy and does not account for the absence of a single unified market.
Step-by-step explanation:
The AD/AS model is an economic model that falls under the subject of Social Studies. It is used to illustrate the interlocking relationships between the three macroeconomic goals of economic growth, unemployment, and low inflation. The AD/AS model is static, meaning it shows a snapshot of the economy at a given point in time. It is important to note that there is no single unified market for everything in an economy, which is why the AD/AS model is considered theoretical rather than a complete representation of the real economy.