The level of real national output produced at each price level is called a(n)
A) aggregate supply curve.
B) production possibilities curve.
C) aggregate production function.
D) capital output ratio.
E) product-price yield curve.

Question

Quizplus · Accepted Answer

The level of real national output produced at each price level is the definition of the aggregate supply curve. This curve shows the amount of goods and services that firms are willing and able to supply at different price levels.

The Level of Real National Output Produced at Each Price