The concept of aggregate supply refers to a
A)fixed number of output.
B)list of products demanded.
C)schedule of output.
D)schedule of production costs.

Question

Quizplus · Accepted Answer

Aggregate supply refers to the total quantity of goods and services that producers in an economy are willing and able to supply at a given overall price level in a given period. It is often represented as a schedule or curve showing the relationship between the price level and the quantity of output produced. This is not a fixed number, but rather varies depending on several factors including the price level, technology, and input costs.

The Concept of Aggregate Supply Refers to a