The aggregate supply and aggregate demand model is used to explain:
A) how individual markets affect other markets.
B) how entire markets operate, not just each individual seller within a market.
C) the market price determined by all buyers and all sellers interacting in a market.
D) how output, prices, and employment are tied together in a single economic equilibrium

Question

Quizplus · Accepted Answer

The aggregate supply and aggregate demand model is used to explain how output, prices, and employment are tied together in a single economic equilibrium for an entire market. It considers the interactions between all buyers and sellers in the market, rather than just individual sellers or buyers.

The Aggregate Supply and Aggregate Demand Model Is Used to Explain