The total amount of output producers are willing and able to produce at alternative price levels in a given time period is known as:
A) Aggregate demand.
B) Aggregate supply.
C) Real GDP.
D) Macro equilibrium.

Question

Quizplus · Accepted Answer

The total amount of output producers are willing and able to produce at alternative price levels is known as aggregate supply. Aggregate demand refers to the total demand for goods and services in an economy at different price levels, real GDP is the total output of an economy in a given time period, and macro equilibrium refers to the state of an economy where aggregate demand equals aggregate supply.

The Total Amount of Output Producers Are Willing and Able