Question
Aggregate supply is best described as the
total output of all products and services.
point of equilibrium.
nation’s real gross national product.
excess supply in the market.
total output of all products and services.
point of equilibrium.
nation’s real gross national product.
excess supply in the market.
Answers
GPT-4o mini
Aggregate supply is best described as the **total output of all products and services** that an economy can produce at various price levels, during a specific period. It reflects the supply side of the economy and is an important concept in understanding economic equilibrium and output levels.