Aggregate output refers to the pattern of short-term ups and downs in the economy.

Name: Aggregate output refers to the pattern of short-term ups and downs in the economy.
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Aggregate output refers to the total amount of goods and services produced by an economy over a given period of time, such as a year. It does not refer to short-term ups and downs, which are better described as business cycles or fluctuations in economic activity.

Aggregate Output Refers to the Pattern of Short-Term Ups and Downs