Aggregate supply expresses the relationship between
A)the price level in the economy and the aggregate output firms will produce,other things constant
B)the price level and the aggregate amount people will buy at that price level
C)the price level and the potential amount of output that could be produced
D)the quantity of output that will be produced and sold in one year
E)the actual output and the potential output of the economy

Question

Quizplus · Accepted Answer

Aggregate supply expresses the relationship between the price level in the economy and the aggregate output firms will produce, other things constant. In other words, the aggregate supply curve shows how much output producers will supply at different price levels.

Aggregate Supply Expresses the Relationship Between