Aggregate supply can be thought of as
A)a fixed amount of output.
B)unrelated to the price level.
C)a schedule of output at different price levels.
D)the volume of goods at the ends of the production possibilities curve.

Question

Quizplus · Accepted Answer

Aggregate supply refers to the total amount of goods and services that firms in a particular economy are willing and able to produce at different price levels. It is represented by a schedule or a curve that shows the relationship between the price level and the level of output that firms are willing to supply. Therefore, option C is the best choice as it accurately describes what aggregate supply is.

Aggregate Supply Can Be Thought of as